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Commander calls for a trading halt

Commander calls for a trading halt

ASX-listed integrator halts share trading pending an announcement about its financial future

Embattled ASX-listed integrator, Commander (ASX: CDR), has called for a halt on its share trading.

In its ASX statement, the company requested shares trading be halted until a further announcement was made, or until Monday, August 11.

"Commander... requests that a trading halt be placed on its securities pending an announcement by the company regarding its financial position," the company said in an ASX statement.

The latest announcement comes a week after the integrator denied its decision to relocate its headquarters from Darling Park in Sydney to North Ryde and its call centre to Adelaide was a cost-cutting exercise. Despite this, the move could see more than 100 staff retrenched.

Commander has spent the past couple of years battling increasing debt and cash flow issues. In a recent guidance statement, the company cut its pre-tax profits forecasts from upwards of $20 million to between $4.5 million and $7 million for the year to June 30 excluding charges .

Shares in the company were trading at $0.082 at the time the trading halt was called.


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