The ASX today informed more than 20 companies – across numerous sectors, including healthcare, technology and basic materials – that they would be suspended from trading as a result failure provide periodic reports by the correct date.

Tech stocks included in the suspension were Bluechiip Ltd (ASX: BCT), Vection Technologies Ltd (ASX:VR1), and Vinyl Group Ltd (ASX:VNL) – with this coming only one day after the latter company informed investors it has snaffled a takeover of UK-based music platform Serenade.

In communication services, there was Sportshero Ltd (ASX:SHO), while healthcare was represented by Chimeric Therapeutics Ltd (ASX:CHM).

The consumer cyclical sector saw two companies suspended Site Group International Ltd (ASX:SIT) and Sprintex Ltd (ASX:SIX), while consumer defensive had three: Prestal Holdings Ltd (ASX:PTL), Wide Open Agriculture (ASX:WOA), and Yowie Group Ltd (ASX:YOW).

Unsurprisingly, the dominant energy sector was also represented, with Eden Innovations Ltd (ASX:EDE), Intra Energy Corporation Ltd (ASX:IEC), Neurizer Ltd (ASX:NRZ), Pure Hydrogen Corporation Ltd (ASX:PH2), and Whitebark Energy Ltd (ASX:WBE).

And of course, basic materials, which headed up the biggest group: Classic Minerals Ltd (ASX:CLZ), European Lithium Ltd (ASX:EUR), DGR Global Ltd (ASX:DGR), First Graphene Ltd (ASX:FGR), Foresta Group Holdings Ltd (ASX:FGH), Indiana Resources Ltd (ASX:IDA), Newfield Resources Ltd (ASX:NWF), Reedy Lagoon Corporation Ltd (ASX:RLC), Savannah Goldfields Ltd (ASX:SVG), Tasman Resources Ltd (ASX:TAS), and Thor Energy Plc (ASX:THR).

Suspensions can be placed on a company at its own request or be instated by the bourse itself – in the latter case, often due to a compulsory acquisition, non-compliance with listing rules, a failure to lodge documents, or the non-payment of annual listing fees.

In its statement released today, the ASX told companies they would be ‘suspended from quotation under Listing Rule 17.5 from the commencement of trading today, Tuesday, 1 October 2024, for not lodging the relevant periodic report by the due date’.

It added that if the report in question was lodged between the closure of the market announcements office on Monday (September 30) and the suspension being imposed, securities would be reinstated the trading day which followed the imposition.