Mighty Kingdom's strategic move

Mighty Kingdom (ASX:MKL) has sought an extension of its voluntary suspension from the ASX. Initially requested on 8 November 2024, the company now aims to extend this suspension from 12 November 2024. This move is driven by the need to concentrate on capital raising due to certain transactions not proceeding as planned.

Strategic focus and future outlook

Mighty Kingdom (ASX:MKL) is prioritizing capital raising efforts crucial for its financial viability, requesting an extension of its voluntary suspension on the ASX. The initial suspension began on 8 November 2024, with an extension sought from 12 November 2024, to protect its capital raising initiatives. The company acknowledges that proposed transactions may not proceed in their original form, hence the shift in focus. The suspension is set to last until either a capital raising announcement is made or normal trading resumes on 18 November 2024. This strategic move is authorized by David Butorac, Chair, highlighting the company's commitment to ensuring its financial health and stability.

Executive insights on suspension extension

The suspension is necessary to protect the company's ability to effectively raise capital, which is critical for its financial health.