The market may be sinking notably lower again on Monday but some shares have avoided the selloff due to being in trading halts.
Here's why these three shares are currently halted:
Global Geoscience Limited (ASX: GSC)
This lithium and boron-focused mineral exploration company's shares were placed in a trading halt this morning ahead of the announcement of results from its pre-feasibility study for the Rhyolite Ridge project. Its shares are expected to remain in the trading halt until the commencement of trading on Wednesday. Investors have high hopes for the Nevada-based operation after recent production of boric acid revealed very low levels of impurities combined with good crystal size. This suggests a highly desirable product that management believes should attract customers in premium markets.
ResApp Health Ltd (ASX: RAP)
This digital health company has requested a trading halt pending the release of an announcement regarding its US SMARTCOUGH-C-2 study results and analysis. Last year the company's shares were smashed when poor quality data led to its original SMARTCOUGH study failing miserably. However, the early indications are that things will be significantly better this time around. Especially given the positive results of its recent prospective sleep apnoea study. The SMARTCOUGH study is evaluating the efficacy of the ResAppDx smartphone application for the diagnosis of childhood acute respiratory disease using cough sounds and has enrolled 1,470 patients across three hospital sites in the United States.
Worleyparsons Limited (ASX: WOR)
This engineering company's shares have been placed into a trading halt whilst it prepares an announcement in relation to the outcome of a capital raising to fund the acquisition of Jacobs Engineering Group's Energy, Chemicals, and Resources division for a cash and debt free enterprise value of US$3.3 billion (A$4.6 billion). The acquisition will be funded via a A$2.9 billion entitlement offer, A$985 million stock issued to Jacobs, and new debt. The transaction is expected to be highly accretive to earnings. The Entitlement Offer will be issued at a price of $15.56 per new share, representing a 12.8% discount to the last close price.
