Key points
- Suspension from quotation at NRW's request
- Pending announcement regarding Onesteel administrators' appointment
- Implications for NRW's half-year results
Full summary
NRW Holdings Ltd (ASX: NWH) has been suspended from quotation on the Australian Securities Exchange (ASX) at the company's own request. The suspension comes as a result of the South Australian Government appointing administrators to Onesteel Manufacturing Pty Ltd, which was the contracting entity for NRW's subsidiary Golding Contractors at the SIMEC operations in Whyalla. Given that NRW had effectively completed and was due to release its half-year results on 20 February 2025, the appointment of administrators to Onesteel has necessitated NRW and its auditors to consider any implications as a subsequent event. NRW has therefore requested a voluntary suspension until the company is in a position to provide the market with an update on the SIMEC position and the timing of the release of the half-year results, expected to be no later than Friday, 28 February 2025.