Could remain in Voluntary Suspension for some time, page-50

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31/03/25

12:06

Post #: 78479622
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Originally posted by camban: ↑

Imo this is becoming all too common with the ASX. This is not the first time lately I’ve seen the deadline pass following a voluntary suspension with zero communication to shareholders. The 24 March announcement very clearly stated (as is the normal protocol) “...or the commencement of trading”, not sometime during the day or in the evening.

From past observations of other issuers, I’d conclude that the Co has submitted a draft announcement for release on MAP this morning, but ASX have held it pending to-and-from questions between the listing adviser and Co. Imo only of course. If the questions are unresolved and need more time, ASX will surely be discussing with them a continuation of their voluntary suspension. Or if ASX is unhappy with the responses or other aspects of the proposed release itself, they’ll institute their own compliance suspension. Furthermore, it could even be a request from the Co today for a continuation of the suspension, but ASX are not yet of a mind to grant it and announce this until they are satisfied with the reasons for the continuation request.

In any case, there should still be some clarity coming today, and to be honest, imo ASX really needs to get its act together by putting out something similar to a “Pause” announcement by 10:10am on stocks due to resume but which haven’t yet cleared the hurdle for MAP release & usual resumption. It’s supposed to be an informed market and deadlines should be reliable, not moveable.

All things considered tho, it’s probably in shareholders’ best interests at the moment that this stock isn’t trading until the bigger picture is crystal clear. I hope the Co can find a viable path forward, because I get no satisfaction from seeing shareholders take a hit or patients losing out on potentially transformative treatments. GLTAH etc etc.

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The whole purpose of an ASX announcement is to inform the market, not shareholders, and while the shares are in suspension it makes no difference whether deadlines are met or not.

If the company had applied for an extension to its suspension it would be posted by now

OPT Price at posting: 60.0¢ Sentiment: None Disclosure: Not Held
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