Connected IO shares remain suspended after ASX queries announcements

Shares in wireless networking provider Connected IO will remain suspended after queries from the ASX about two recent contract announcements.

The shares — which have been in a trading halt since last Tuesday — would remain suspended “until further information is provided to the market regarding the announcements released on 9 March 2018 and 13 March 2018,” the company told investors in an ASX announcement on Monday morning.

“This is following a request for further information from ASX.”

On March 9, Connected IO (ASX:CIO) announced it had signed “a reseller agreement with a major United States telecommunications company with whom it has had a historic relationship and the disclosure of which is considered commercially sensitive at this time”.

On March 13, the group told investors it had received “a purchase order from a US based cyber security company… The purchase order is for an amount of $349,000 and confirms recurring revenues from this customer.”

Further details were expected by the end of this week, the company said.