Ann: Suspension from Official Quotation, page-16

Well, no surprise there.

The problem as I stated last Friday was:

"Disclaimer of Review Conclusion
Because of the significance of the matters described in the Basis for Disclaimer of Review Conclusion
paragraph above, we are unable to and do not express a conclusion as to whether the accompanying
half-year financial report of FAR Limited is in accordance with the Corporations Act 2001, including:

(i) giving a true and fair view of the company’s financial position as at 30 June 2020 and of its
financial performance for the half-year then ended; and
(ii) complying with Australian Accounting Standards AASB 134 Interim Financial Reporting and the
Corporations Regulations 2001."

Any way, compliance of Corporations Act 2001 is paramount for all companies; especially those listed on the exchange.

So when you have the Auditor highlighting the above, the ASX was bound to act.

Just speculating the reasoning behind it: the Auditor was probably demanding that FAR write off the whole SNE investment (due to default) but FAR had a different opinion, so the Auditor made the above qualifying statement, triggering the ASX enquiry and subsequent suspension.

This probably explains why the Financial Account was released at the last minute on Friday.

IMHO, this could end in one of two ways:

- FAR will write off the whole SNE investment (due to default), or
- FAR will accelerate the sale of the SNE asset during the suspension period.

Any way, there is Not much time left for FAR management to restore some value for shareholders.

Lets hope there is Not a left field event, like a law suit.

Good luck.

AIMHO

As Always, DYOR.