The Electro Optic Systems Holdings Limited (ASX: EOS) share price is on ice after the ASX suspended the company from trading today.
The ASX has given the defence and space technology company a smack on the wrist for “failure to lodge the relevant periodic report by the due date”.
Before the market opened, the ASX announced it was suspending Electro Optic Systems and four other ASX shares for this same reason.
The ASX said:
The securities of the following entities will be suspended from Official Quotation in accordance with Listing Rule 17.5 from the commencement of trading today, 1 September 2022, following their failure to lodge the relevant periodic report by the due date.
The August reporting season officially ended yesterday (obviously) on 31 August.
The ASX requires companies to disclose half-year and full-year reports. They also have to submit quarterly activities reports and other documents.
Electro Optic Systems provided a quarterly activities report on 29 July.
It posted full-year FY21 accounts on 31 March.
At the time of writing, Electro Optic Systems had not yet responded to the suspension.
The other ASX shares suspended alongside Electro Optic are:
- 3D Metalforge Ltd (ASX: 3MF)
- Frontier Energy Ltd (ASX: FHE)
- Range International Ltd (ASX: RAN)
- Retech Technology Co Ltd (ASX: RTE)
Electro Optic share price snapshot
The defence company’s shares are down 70% in the year to date and 80% over the past 12 months.
The company has a market capitalisation of $117.8 million.
The post Why is the Electro Optic Systems share price frozen today? appeared first on The Motley Fool Australia.
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Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Electro Optic Systems Holdings Limited. The Motley Fool Australia has recommended Electro Optic Systems Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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