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Charisma Energy requests trading suspension amid talks with banks, creditors
CATALIST-LISTED Charisma Energy Services on Thursday requested a suspension in the trading of its shares "with immediate effect".
This followed its disclosure on Monday that the company is in discussions with certain stakeholders such as bank lenders and creditors in relation to its financing and capitalisation structure.
"The company is also taking steps to review its options to strengthen its financial position and preserve value for its stakeholders. In anticipation of the company having to reach out to a larger group of stakeholders such as bank lenders and creditors to discuss the company’s financing and capitalisation structure, and taking into consideration the dynamic situation that the company is in, the board has recommended that the trading of the shares of the company be suspended on a voluntary basis with immediate effect, and until all material information regarding the company’s financing and capitalisation structure is disclosed."