Centrex voluntary suspension details

Centrex (ASX: CXM) has announced a voluntary suspension of its securities on the ASX. The suspension aims to allow negotiations with a logistics provider and lender, and to finalize a capital raising. Trading is expected to resume by 14 February 2024.

Centrex's strategic financial maneuvers

Centrex Limited has voluntarily suspended its trading on the ASX to focus on essential negotiations and capital raising. The suspension, requested from 19 December 2024, follows a trading halt from 17 December 2024. Key negotiations include restructuring trade debt and logistics agreements, and finalizing deeds of forbearance with its logistics provider and lender. A capital raising is also underway, supported by appointed joint lead managers. The suspension will last until 14 February 2024 or earlier if the capital raising completes. Centrex aims to stabilize its financial position through these strategic moves, ensuring its long-term viability.

Executive commentary on suspension

The suspension is to facilitate the completion of crucial negotiations and financial arrangements, including restructuring trade debt and logistics agreements. Centrex is currently finalizing deeds of forbearance and other transaction agreements with its logistics provider and lender. A capital raising is required to support the company's restructuring initiatives. Joint lead managers have been appointed to assist with the capital raising process.