Pacific Star and SCA seek further extensions to their share trading halts

The Pacific Star Network has asked the ASX for a two-week extension to its trading halt.

The company wants to further assess the impact of the COVID-19 pandemic on its operations, telling the ASX “With the continued uncertainty surrounding the AFL and NRL season, restrictions on event gathering and the economic impact on advertisers, which are core to the PNW business, PNW is reviewing its staffing structure and working with its clients, sporting bodies. Financier and suppliers to reach a position to inform the market.”
Pacific Star is hoping to provide the update by April 17th.
The company has also withdaown its previously provided guidance in respect to its financial performance for FY20.

Southern Cross Media has also requested an extension to its chare trading halt, telling the ASX that, while it has made some plans to combat the effects the COVID-19 crisis is having on business, the compnay is not yet in a position to inform the market about these matters.

SCA has indicated that it hopes to be able to make an announcement before the commencement of normal trading next Wednesday.


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