"On Tuesday, May 15th, Queensland Bauxite Limited and its legal advisors were advised by the ASX that further modifications need to be undertaken to be fully in accordance with the ASX Listing Rules. "
Hmm .... I think I said that the issue would be due to the listing rules. I'll bet they have consulted their legal advisors. Seem to recall saying that as well.
I got absolutely crunched on this thread for daring to suggest that the only thing that they would be talking to the ASX about would be linked to listing rules. And what do you know?
"On Tuesday, May 15th, Queensland Bauxite Limited and its legal advisors were advised by the ASX that further modifications need to be undertaken to be fully in accordance with the ASX Listing Rules."
Modifications? What?
And before QBL undertook the 'acquisition' didn't they work all of the details out prior to the acquisition?
In all fairness, it may well be all as they say. However, how do holders place confidence in a management team that seem unable to progress a simple acquisition without getting caught up in some "listing rule' imbroglio with the ASX?
So now the question is - which listing rule, or rules, are they trying to 'modify' or remedy with the ASX? And why not disclose this and maintain confidence of their shareholders? And please don't reply with the CIC justification.
I wont discuss the SP action as there will be enough anxiety around a few holders today.
However, it strikes me that some here would do well to listen to the opinion of others rather than smash them down when facts are presented that run counter to their dreams of mega medicinal cannabis riches.
I sincerely do hope this works out for people. If your ears are not well and truly pricked up by now then they ought to be!
Just my views.
GLTAH
QBL Price at posting:
4.9¢ Sentiment: None Disclosure: Not Held
