Quickflix shares suspended from ASX quotation “pending an announcement” about a mystery new investor
“The securities of Quickflix Limited, will be suspended from quotation immediately, at the request of the company, pending the release of an announcement,” it was announced by the ASX today.
The voluntary suspension of trading, at instruction of company Directors, comes as the movie content provider looks to announce a “new strategic investor and capital raising,” company secretary Susan Hunter said today in a statement.
The shock announcement, comes as Channel News reported the trouble the online movie content provider is in, after it placed shares in a trading halt on Monday.
The identity of the new investor is not known; however, SmartHouse has been told that several companies have looked at investing in the Perth based content provider including Blockbuster, Fairfax Media, as well as Optus.
It appears the Company is struggling to raise cash to fund their operation. Questions are also being raised as to the value of their subscribers.
Shares last traded at $0.056.