Stakk Confirms Recent Trading in Securities Linked to the US Unit's New Customer Contract

MT Newswires Live

Jun 02

Stakk (ASX:SKK) confirmed that recent trading in its securities from a high of AU$0.019 from the close of trade Sunday to a high of AU$0.025 on Monday is tied to a new customer contract entered into by its US subsidiary, which was signed over the weekend and disclosed recently, according to a Tuesday filing with the Australian bourse.

In its response to the ASX price and volume query letter, the company said it withheld the information from the market using Listing Rule 3.1A, which permits delayed disclosure for incomplete proposals or confidential negotiations, until the contract signing was announced.

The company prepared an announcement and sought board approval for its release following the contract execution over the weekend, disclosing it at the first possible opportunity after finalization and approval, per the filing.

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