I've never tracked and measured ASX's entire history of governance and how effective or in-effective it's been so I won't comment on that.
I think LLL management are trying to make the best of this situation and handle it as best they can. Maybe put yourself in their shoes and have a think about how you would handle it (the problem is you don't know exactly the situation they're dealing with).
Ann: Suspension from Quotation - Listing Rule 17.3, page-162
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