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Allegra Medical Technologies (ASX: $AMT) provides half year financials update

  • Author: Stock Piper

Allegra Medical Technologies (ASX: $AMT) Half Year Financials Update


Allegra Medical Technologies (ASX: $AMT) has provided an update on its half year financials. The company's voluntary suspension, requested on 23rd February 2024, is expected to be lifted by the close of trading on Friday, 22nd March 2024. The delay in lodgment of the Appendix 4D and Half Year Report, due to the ASX on 29th February 2024, has resulted in the suspension pursuant to ASX Listing Rule 17.5, effective 1 March 2024.

Executive Commentary on Funding Arrangements


The delay in the lodgment of the Appendix 4D and Half Year Report is due to the Company's continued discussions with its lenders regarding its funding requirements. The Company anticipates that the Half Year Report audit review will be finalized following the successful completion of its funding arrangements with the current financiers. The ongoing support of the financiers continues to be discussed, negotiated, and assuming satisfactory terms can be agreed, documented. This process is expected to take up to an additional 2 weeks. The Company will advise the market and seek lifting of the suspension once these discussions are completed.

Summary of Allegra Medical Technologies Update


Allegra Medical Technologies (ASX: $AMT) has been suspended due to the delay in lodgment of the Appendix 4D and Half Year Report, resulting from ongoing discussions with its lenders regarding funding requirements. The Company's extension is expected to be lifted by 22nd March 2024. Once the funding arrangements with the current financiers are successfully completed, the Company aims to proceed with the sale of the intellectual property relating to the Sr-HT-Gahnite Spinal Cage Device. The ongoing support of the financiers is being negotiated, and assuming satisfactory terms can be agreed, documented, the Company will seek to lift the suspension. Allegra Medical Technologies remains committed to its innovative medical device industry pursuits and the commercialization of the Sr-HT Gahnite Bone substitute.

ALLEGRA MEDICAL TECHNOLOGIES LIMITED
AMT | ASX | Health Care
0.0290(+0%)
At close 05/07 (AEDT)
Market cap
$-1
Volume
0
DY Yield
0
PE Ratio
0
52 Week Range
0 - 0.062
1YR Return
-33.654%

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