DeSoto Resources initiates trading halt

DeSoto Resources (ASX:DES) has initiated a trading halt on its securities, effective immediately. This halt is in anticipation of a forthcoming announcement about a strategic acquisition. The halt will remain until the announcement is released or until normal trading resumes on Monday, 25 November 2024, whichever is sooner. The company is compliant with ASX listing rule 17.1 and has no reasons for the halt to be denied.

DeSoto Resources' strategic acquisition outlook

DeSoto Resources (ASX:DES) has requested a trading halt as it prepares to make an important announcement regarding a strategic acquisition. The halt will ensure that trading occurs on a fully informed basis, maintaining market integrity. The halt will last until the announcement is made or until the start of trading on 25 November 2024, whichever comes first. The board of directors authorized this decision, communicated by Company Secretary Tony Tomba, and aligns with the ASX listing rules. This move signifies DeSoto's active engagement in enhancing its strategic positioning and may have significant implications for its operations and market valuation.

Executive commentary on trading halt

The request for the trading halt was made in accordance with ASX listing rule 17.1, and the company has indicated that it is not aware of any reason why the trading halt should not be granted.