Optima shares suspended
ASX-listed PC assembler says it will announce details about its future direction by Friday
Nadia Cameron (ARN) on 22 July, 2008 11:11
Trading in shares in ASX-listed PC manufacturer, Optima (ASX: OPI) has been suspended pending the release of an announcement about its future.
The latest news comes just days after the company called for a trading halt on shares. It also follows revelations that Melbourne-based distributor, Multimedia Technology (MMT), has launched legal proceedings against Optima's retail arm, Digital City, for failing for pay back several hundred thousand dollars in debt.
In its ASX statement, Optima said the shares suspension would end on July 25 following another announcement regarding its "future direction of Optima Technology Solutions".
"It has taken longer than expected to finalise the direction and we expect an announcement to be made before the opening of trading on Friday morning," the statement read.
Optima's shares were valued at $0.015 when the trading halt was called on July 18.
Sources close to the company told ARN Optima's management team had been trying to avoid closing the business. As previously reported, Optima has been plagued by revenue and profit losses and increasingly tough competition from multinational vendors for federal and state government PC procurement business in recent years.
It is understood Optima's key distribution partners include Ingram Micro and Synnex.
Nadia Cameron