Hmm ... that' a fair enough statement given the evidence.
"...
pending release of an announcement by the Company regarding current research initiatives, as referenced in the
Company’s original trading halt request. It is expected that the announcement will be able to be made by Friday 5 June 2020." (my bold)
So ... some 17 days later the announcement that was 'flagged' in a TH request on 18 May 2020, is still not able to be released? Why?
1. Was the detail of the, '
research initiatives' not known in sufficient detail for the announcement to be made on 20 May 2020?
2. Or, has the ASX asked for further clarification / evidence on the detail / claims contained in this 'impending' announcement?
The research initiatives, it is claimed, are "current" so it follows that they (CGB) must be aware of, or know the details of the 'initiatives'. What's the issue?
3. Is it not possible for the company to inform investors why there has been a 17 day delay ... so far? With all of the claims about keeping their shareholders informed (across other platforms) they remain strangely silent on this simple detail.
So I ask myself - how hard can this be? Either they have an announcement to make (one that is in accord with the ASX Listing Rules) or, they do not!
Facts(a) On 18 May 2020 a trading halt is requested to make an announcement on 20 May 2020.
That didn't happen.(b) On 20 May a voluntary suspension is applied for an announcement to be made on 22 May 2020.
That didn't happen. (c) On 25 May the voluntary suspension is extended for an announcement to be made on 27 May 2020.
That didn't happen.(d) On 28 May the voluntary suspension is extended for an announcement to be made on 2 June 2020.
That didn't happen.(e) On 3 June the voluntary suspension is extended for an announcement to be made on 5 June 2020. What do we type at the end of this sentence tomorrow?
When Friday arrives that will be the 5th attempt to get an announcement out about, "research initiatives". Seriously ... 5 attempts at something that is either announceable or, it is not!
Well ... the outcome is all too familiar ... shareholders await ... so patiently ... yet again.
