Magnis Energy in limbo after auditor queries solvency
Elouise FowlerReporter
The ASX says it will not allow Magnis Energy Technologies to trade on the exchange after auditors raised concerns about the company’s finances.
The market operator said it would keep Magnis’ shares halted until the company could reassure the bourse that it was solvent after it posted a $72.7 million loss and cash outflows of $58.6 million in the 12 months to June 30.
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Elouise Fowler is a journalist for The Australian Financial Review based in the Melbourne office. Connect with Elouise on Twitter. Email Elouise at elouise.fowler@afr.com.au
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