Beleagured education group Vocation has asked to be suspended from the ASX, pending an announcement on the progress of its talks with Victorian regulators over a review of government funding to two of its most important subsidiaries.
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Vocation, which entered a trading halt on October 23, asked the ASX to be suspended from trade pending the release of an update later on Monday morning or within the next 24 hours.
The company says it is still in discussion with the Victorian Department of Education and Early Childhood Development over the "settlement of the review" conducted by the department into the government funding provided to Vocation subsidiaries BAWM and Aspin, both of which are registered training organisations (RTOs).
Vocation shares have plunged since Fairfax Media revealed that funding to the RTOs, despite Vocation telling investors last month that "neither the review nor its anticipated outcomes are expected to be material to Vocation."
Since the start of September the stock has fallen from $3.28 to $2.29.
