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AFR article:
Bellamy's Australia has requested that its shares remain suspended from trade for another three weeks while it continues talks with key suppliers and manufacturers.
The organic baby food and formula markers stock has been suspended for a week, following a two-day trading halt. It has now requested the suspension remain in place until January 13.
"Bellamy's requests that its securities remain suspended from trading pending negotiations with key suppliers/manufactures in order to determine the impact of those negotiations on the company's expected financial results," Bellamy's said in a statement to the ASX.
The suspension in the shares of the one-time market darling came after the stock was heavily sold down wiping $544 million from its market capitalisation following a 40 per cent downgrade to earnings earlier this month. |
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