July 28, 2010
Does anyone know why ASX company NRW Holdings (NWH) is in trading halt?
By Planet Wealth
All I know from the ASX website is that they’re negotiating a significant contract and my shares are in trading halt until Apr-9. Any knowledge or suggestions?
Topics: stock market | 2 Comments »
2 Responses to “Does anyone know why ASX company NRW Holdings (NWH) is in trading halt?”
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July 28th, 2010 at 3:09 pm
WA mining contractor NRW Holdings last night followed Macmahon Holdings into a share trading halt pending an announcement about its own “significant contract”.
The go came amid growing speculation about major potential work linked to BHP Billiton’s RGP5 (rapid growth project) iron ore expansion in the Pilbara.
NRW shares traded up 21 per cent, or 14¢, to 80¢ yesterday, its fifth straight consecutive gain.
The stock has now risen 66.5¢ since it hit a record low of 13.5¢ in December.
NRW company secretary Kim Hyman said the hectic trading in shares prompted the company to seek a trading halt while it finalised an unidentified contract.
He said NRW expected to make an announcement by Thursday but declined to comment further.
The NRW trading halt came after Macmahon went into a trading halt halfway through Friday’s trading session pending an announcement about a huge contract, which is expected to be announced before the start of trading today.
Macmahon’s shares were up 11 per cent at 51.5¢ on high volumes before the halt.
Sharemarket forum HotCopper carried a posting from a member, known only as “RICH08” on Thursday night which included a scanned “fact sheet” with a Leighton Macmahon Joint Venture (MLJV) letterhead, detailing a $500 million project starting January 5, 2009.
Macmahon and Leighton refused to confirm or deny the authenticity of the document, which said MLJV’s contract would entail laying 220km of railway, building 1000 camp rooms with gymnasiums and a pool, building 20 bridges, 1.2 million cubic metres of earthworks and installation of 840km of fibre optic cable.
The document said 1100 workers would be required for the project.
It also said a high level of indigenous participation would be encouraged, with 15 per cent indigenous employment targeted.
July 28th, 2010 at 3:09 pm
I reckon it’s because u have commitment issues..