iSOFT extends trading halt

iSoft (ASX:ISF) has extended a trading halt placed on its shares until Next Monday pending a major announcement on the future of the troubled e-health provider.

The trading halt, , led many to expect the company to announce a buyout by Monday this week. However, in an ASX statement issued before trading began this week, the company said it would shortly update the market on its strategic review process.

"The directors consider that the current status of the strategic review process and the proposals received as part of this process, including relating to a potential change of control, are not sufficiently advanced to permit the disclosure of complete information to the market," the statement reads.

According to the company its shares will be suspended for an entire week while it seeks to bring itself to a position where it can publicly release information on its future.

"Given the nature of proposals received, in the absence of a detailed announcement there is potential for trading to take place in a speculative or uninformed market," the statement reads.

"Accordingly, the company requests a voluntary suspension of its securities to prevent trading taking place in a speculative or uninformed market ahead of the announcement."