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BREAKING: Chamberlin – shares suspended with winding up petition court hearing already held… and only announced now?!

By Steve Moore | Tuesday 7 May 2024

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Previously writing on castings and machining company Chamberlin (CMH) early this year I suggested balance sheet strain. At 11:45am today a shares “Suspension” announcement just stating “pending clarification of the company's financial position” before the company only got an update with some detail out at 12:36pm. This included that it “has been issued with a winding up petition by the company's main power supplier and a court hearing was held this morning”. Hmmm, when was this first known about then?!

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