Connected IO shares remain suspended after ASX queries announcements
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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.