Silex Systems (ASX:SLX, OTCQX:SILXY) has been granted a trading halt by the ASX, with its shares placed in pre-open.
Silex requested the halt pending proposed changes to the commercialisation arrangements in relation to its SILEX laser-based uranium enrichment technology.
Last month the company outlined that it had completed a strategic review of the entire business and has determined to refocus efforts on its primary economic asset, the SILEX Uranium Enrichment Technology, and to significantly reduce cash burn from the beginning of FY 2015.
The SILEX Uranium Enrichment Technology is licensed to Global Laser Enrichment LLC (GLE), a consortium of GE (51%), Hitachi (25%) and Cameco (24%), which has worldwide exclusive rights for the commercial exploitation of the technology.
The SILEX Technology represents the most significant future revenue potential with Silex to receive a perpetual royalty between 7% and 12% of GLE’s revenues (based on calculation of cost per unit production installed).
The halt will remain in place until the opening of trade on Thursday 24th July 2014, or earlier if an announcement is made to the market.
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