The situation Down Under grows curiouser and curiouser for the Rip Curl, Oboz Footwear, and Kathmandu brands each day and most likely has Paul Naude scratching his head (more at bottom).
KMD Brands Limited, the owner of the Rip Curl, Oboz Footwear, and Kathmandu active lifestyle brands, has made another request of the NZX, which include’s New Zealand’s Stock Exchange, and ASX, Australia’s Stock Exchange, to place a Trading Halt and Voluntary Suspension on KMD shares for an extended period of time following its initial request on March 25, 2026. KMD Brands Limited’s ordinary shares were placed into trading halt on NZX and ASX on March 25, 2026 on request by KMD.
The company is now requesting that:
- A further trading halt be placed on KMD’s ordinary shares on NZX under NZX Listing Rule 9.9.1(a); and
- KMD’s ordinary shares be placed into voluntary suspension on ASX under ASX Listing Rule 17.2.
KMD said it would like the trading halt on NZX and the voluntary suspension on ASX to commence prior to the commencement of trading on NZX on Friday, March 27, 2026 and end prior to market open on Monday, March 30, 2026.
KMD provided the following reasons for the trading halt and voluntary suspension:
As announced to market on 25 March 2026, KMD intends to launch a capital raise, and finalise terms for a refinancing of its existing bank facilities, in conjunction with the release of its financial results for the half year ended 31 January 2026 (HY26 Results). KMD is not presently in a position to make an announcement regarding the capital raise and refinance, as the final details, including pricing, are still being determined.
The company said discussions regarding these matters remain ongoing.
KMD continued:
In order for the directors to approve the HY26 Results, and KMD’s auditors to complete their review of the HY26 Results, the final details of the refinance and the capital raise will need to be confirmed. Accordingly, KMD is unable to finalise the HY26 Results. A further trading halt and suspension is therefore required to maintain an orderly market while KMD works to finalise the details of the capital raise, the refinance and its HY26 Results. How long we want the trading halt and voluntary suspension to last: We would like the trading halt on NZX and the voluntary suspension on ASX to commence prior to the commencement of trading on NZX on Friday, 27 March 2026.
* * * * *
Image courtesy Oboz Footwear
EXEC: Rip Curl and Oboz Parent KMD Halts Trading of Shares During Capital Raise
EXEC: KMD Brands Rejects Paul Naude Overture to Merge Rip Curl with Stokehouse
EXEC: Rip Curl and Oboz Owner KMD Brands Clarifies Position After Media Speculation
