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Ann: Removal from Official List - Annual Listing Fees, page-89

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Busy Bean

731 Posts.

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12/09/18

10:56

Post #: 35542652
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Originally posted by nooks ↑

Busy Bean, my understanding BIG is still a public company (ie LTD, not Pty Ltd) but no longer a listed public company. https://legalvision.com.au/difference-between-public-and-private-company/

Either way, not a big difference so not trying to be critical. Perhaps the key difference is around disclosure:
5. Disclosure Requirements

Generally speaking, disclosure requirements for private companies are not as stringent as those for public companies. Small private companies have the least disclosure requirements. A small private company is one with a gross operating revenue of less than $25 million and gross asset value of less than $12.5 million. Small private companies do not require an audit and do not need to file financial statements or a directors’ report. In contrast, large private companies must file these disclosure statements.
Public companies share similar disclosure requirements to large private companies, but must also:

provide those reports to their shareholders;

hold annual general meetings (AGMs); and

disclose their constitution to shareholders.

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Yes, thanks for picking up on that.

I think you're correct in that BIG is still technically a public company and hence will have those requirements for disclosure.
BIG Price at posting: $2.22 Sentiment: Hold Disclosure: Held
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