Beam Communications Suspends Trading Amid Arbitration Ruling

Beam Communications Holdings Limited (AU:BCC) has released an update.

Beam Communications Holdings Limited has voluntarily suspended its securities from trading due to an arbitration decision requiring it to sell its 50% stake in the ZOLEO Inc. joint venture and pay $2.4 million in legal costs. The company plans to release an updated financial statement and a strategic assessment by the end of October. Despite the setback, Beam retains crucial intellectual property related to the ZOLEO device, which will play a role in future negotiations.

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