Charles Taylor Group Plc V.MQL

An Unexplained 4 day halt?

[jayd54]

As we are about to see the start of a fifth day since the Company requested halt to trading, it does not reflect well on either Management or the Board of MQL. It smacks of the halt either being premature or ill-advised. If you have nothing material to report, then say that you have nothing, request a re-commencement to trading and let the market judge your actions. If you have something that you are close to finalizing, then say so and give the market (oh, and your shareholders (remember them?)) that rationale and a time frame during which it will be completed or abandoned. Be honest with people. I know its a stretch as the facts regarding the debt levels here and the current penchant for your banker to either bend their clients over or to abandon them altogether is well known. My sense of the halt here is twofold. There may be the real possibility of a corporate deal that involves the other side having cash (AOS?). The other is far more sinister and negative and that is that the bank (NBC) will not renew the line anywhere near what they have already drawn and the options in the marketplace are not attractive. Regardless, the longer this unaddressed halt persists, the worse it reflects on Management and Board.