The All Ordinaries (Index: ^AXAO) (ASX: XAO) may be sinking lower on Tuesday, but the three shares listed below have managed to miss out on today's declines after being placed in trading halts.
Here's why their shares are halted right now:
Jatenergy Ltd (ASX: JAT)
This energy-cum-infant formula company's shares have been placed in a trading halt pending an announcement relating to the acquisition of a business. No further details have been provided, but an announcement is expected to be made on Wednesday. The company could potentially be looking to follow in the suit of its peers by acquiring a facility to manufacture its infant formula products. This would, however, be a costly exercise and likely mean it needs to raise funds to do so.
Oliver's Real Food Ltd (ASX: OLI)
This healthy fast food operator requested a trading halt while it prepares a trading update and revised earnings guidance for FY 2018. Its shares are expected to remain offline until the commencement of trade on Wednesday. Unfortunately I expect this to be an earnings guidance downgrade from Oliver's as it rarely takes this long to prepare an earnings upgrade. I'm not overly convinced on the viability of the Oliver's business model and would suggest investors stay clear if it is indeed a downgrade. Especially given how it was only six weeks ago that the company reaffirmed its guidance.
Sirtex Medical Limited (ASX: SRX)
This regenerative medicine company requested a trading halt this morning pending the release of an announcement on material developments in the proposal from CDH. Earlier this month the China-based alternative asset fund manager made an unsolicited non-binding, indicative and conditional proposal to acquire 100% of Sirtex for a cash price of $33.60 per share. As a result of this offer, the company postponed its scheme meeting related to its $28.00 per share offer from Varian Medical Systems. Shareholders will no doubt be hoping that Varian has come in with a better offer or that CDH's offer has become more concrete.
