Antares suspended

In a new twist, Antares shares have been suspended from trading.

The drama never seems to end for Antares Energy. Just a week after revealing a miraculous deal to sell its remaining Permian Basin assets for US$250m (see Antares sells assets) – more than 10 times the market capitalisation of the company prior to the deal – Antares shares surged from $0.10 to $0.50 before being forced into a trading halt by regulators.

The shares have now been suspended from trading indefinitely, with the ASX accusing directors of not adequately disclosing information about the deal to the market.

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