Pending earnings announcement.

On Monday morning, Godfreys asked the Australian Securities Exchange (ASX) to place its shares in a trading halt.

In its statement to the ASX, the company said it had requested a halt pending an announcement “in connection with the company’s earnings guidance”.

Godfreys company secretary, Sophie Karzis added that it only required the trading halt until either the commencement of normal trading on Wednesday 9 May or until the announcement was released to the market.

Last month, Godfreys appointed an Independent Board Committee (IBC) to assess and respond to the takeover offer from Arcade Finance.

KPMG Corporate Finance was appointed as financial adviser and Clayton Utz as legal adviser to assist in assessing and responding to the offer. The IBC also appointed BDO as independent expert to provide an opinion as to whether it is fair and reasonable.