Top Shelf International Holdings Ltd (ASX:TSI) has requested the suspension of its shares from trading on the Australian Securities Exchange (ASX) in accordance with Listing Rule 17.2. The suspension is pending the release of its audited financial statements for the year ended 30 June 2024 and the finalization of a review of its operating strategy.
The Company is in the process of negotiating with its senior lender and largest creditors, which has led to the inability to release audited financial statements as required by ASX LR 4.5.1. Discussions are ongoing with various parties for funding and potential transactions to address short- to medium-term operating needs and outstanding creditors. The Company aims to optimize efficiency and profitability and establish a robust funding structure during the suspension period.
Top Shelf International Holdings Ltd (ASX:TSI) has requested the suspension of its shares from trading to facilitate a review of its operating strategy and the finalization of a funding pathway. The Company is actively engaged in negotiations with its senior lender and major creditors to address its financial obligations. The suspension is expected to remain in place until the review of the operating strategy and finalization of the funding pathway, anticipated in Q4 CY2024. TSI aims to ensure efficiency, profitability, and a suitable funding structure during this period.