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Ann: December Quarter Update, page-170

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stevesy

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23/01/17

18:30

Post #: 22085420
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Originally posted by sc815815 ↑

Got my reply from ASX - No change..............

Realm Resources Limited (“RRP”)
ASX refers to your online report dated 19 January 2017 raising concerns about the suspension of trading in
RRP’s shares. The purpose of this letter is to set out the background to RRP’s suspension and to explain what
needs to happen in order for the suspension to be lifted.
On 6 October 2016, RRP announced to the market that ASX had determined that the Foxleigh transaction
constitutes a back door listing, and that RRP is required to re-comply with chapters 1 and 2 of the Listing
Rules. The announcement also advised that the suspension of RRP’s shares would not be lifted until it had
satisfied all of the re-compliance conditions.
ASX’s policies and procedures applying to these rules are documented in ASX Listing Rule Guidance Note 12
Significant Changes to Activities (“GN 12”).
On 2 November 2016 ASX released a consultation paper advising of a change in its policy about immediately
suspending a listed entity that announces a back door listing transaction. ASX will now allow such an entity
to resume trading (at least up to the date of the shareholder vote approving the back door listing) if it makes
an announcement that contains all of the information referred to in Annexure A to GN 12 and ASX is
otherwise satisfied that the announcement includes sufficient information about the transaction for trading
in the entity’s securities to take place on a reasonably informed basis.
Accordingly, the onus is on RRP’s board to make an announcement that meets these requirements so that
its securities may resume trading ahead of the shareholder resolution approving the Foxleigh transaction. If
RRP does not make an announcement to ASX’s satisfaction, then RRP’s securities will remain suspended until
its re-compliance with chapters 1 and 2 of the Listing Rules. To date, ASX is yet to receive from RRP any
proposed announcement in order to satisfy the requirements of Annexure A of GN 12. RRP is well aware of
this policy.
Accordingly, although the suspension in trading in the shares has been applied by ASX (which was in
accordance with the stated policies and procedures in GN 12), ultimately the responsibility rests with RRP to
comply with the above mentioned policy, and that any announcement or update regarding RRP will be
prepared by the board of RRP. ASX has also advised RRP that once the announcement has been made, and
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other key outstanding issues in relation to the re-compliance have been resolved, it is required to announce
to the market the indicative timetable for the re-compliance so that shareholders are informed.
We hope this letter has helped to clarify the situation.
Yours sincerely
[sent electronically without signature]
Stephanie So
Senior Adviser, Listings Compliance
P: 13 12 79

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not looking great is it, management doing nothing

RRP Price at posting: 4.1¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

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