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Ann: Circular to Shareholders, page-38

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knotnauti

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22/11/18

08:04

Post #: 36596237
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Originally posted by delux73: ↑

Having to repost and provide evidence of my last sentence underlined.... please note : a. letter - Circular to shareholders and b. screenshot of 2018
CLZ 2018 annual report pg 39 share issue, I changed my post to more than a Billion shares instead of a billion.

There are some major issues in that court transcript, don't count on it listing soon.If the issued and sold shares don't add up and/or non disclosure of interest was intentional, it's big trouble.By the sounds of that judge she is no one's fool and is already sniffing out the BS.I would be asking ASX/ASIC for the AGM to be postponed until after the court hearing because of the possibility of voting rights being compromised because of the more than a Billion shares that have been issued without cleansing since 2016.
I think its safe to say there has been more than 1 billion shares issued since mid 2016 - heres a link to 2017 report if you want to check? https://hotcopper.com.au/threads/ann-annual-report-to-shareholders.3804858/

A.
Dear Shareholder,
Re Suspension from Trading.
Circular to Shareholders
We are writing to you to explain to you why our shares are suspended from trading and whatsteps the company is taking to rectify this.
Under the Corporations Act a company has the obligation to issue a Cleansing Notice or aCleansing Prospectus subsequent to the issue of new shares to allow secondary trading to takeplace in those shares; without the Cleansing Notice or Cleansing Prospectus any secondarytrading in the issued shares is not authorised.
Classic Minerals made several issues of new shares since the Company was listed. The companyhad previously complied with the requirement to issue a cleansing notice, but from mid-June2016 no cleansing notice was issued in respect to issues of shares. When this came to light thecompany corrected the Appendix 3B by including the required cleansing statement on 24September 2018, and the ASX has now required the company to comply with the previousomissions. A breach of the cleansing notice rule means the ASX will automatically suspend thelisted company’s quotation until the breach is rectified and so our shares were suspended fromtrading. To rectify the breach the company must apply to the Federal Court, issue a CleansingProspectus and inform all the affected shareholders.
We are, as a matter of urgency, doing all these things. Your board takes this matter veryseriously and we are fully conscious of the inconvenience the suspension has causedshareholders.
There is a further scheduled Federal Court hearing on December 12th.
We regret we cannot give you a definitive date when trading will recommence, we are doingeverything in our power to facilitate this process and allow the ASX to lift the suspension.
On behalf of the Board of Classic Minerals.
Link to the annual report pg 39 https://hotcopper.com.au/threads/ann-annual-report-to-shareholders.4508151/

B.

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Thanks for posting Delux.
I think drilling should be suspended also.
As shareholders will not benefit if this Mob go under.
Drillers are the only beneficiaries atm.

Last edited by knotnauti: 22/11/18

CLZ Price at posting: 0.5¢ Sentiment: Hold Disclosure: Held
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