Universal Biosensors Inc Reinstated to ASX Quotation
Key points
- UBI's trading suspension lifted after signing non-binding term sheet for senior secured loan facility
- Announcement regarding new loan facility expected from UBI
- Resumption of trading in UBI shares on ASX
Full summary
The suspension of trading in the securities of Universal Biosensors Inc. (UBI) has been lifted immediately following the release by UBI of an announcement regarding UBI signing a non-binding term sheet for a senior secured loan facility. This means that trading in UBI shares on the ASX will resume. The announcement regarding the new loan facility is expected to be released by UBI. The suspension of UBI's securities was put in place to ensure the market was fully informed about the company's financial position and any developments that may impact its ability to continue as a going concern. With the signing of the non-binding term sheet for the senior secured loan facility, UBI has addressed the concerns that led to the trading suspension, allowing for the reinstatement of quotation.
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