The ASX probably ruled the acquisition of Blackrock was a change of activities i..e. moving from oil to coal. When they rule this its like a new listing and you have to comply with the listing rules like you were a new company applying hence the need of a share price of a minimum 20 cents. Really dumb but ASX have their rules!
It has nothing to do with dilution or anything else, just a compliance issue to take care of.
Ann: JAT to Acquire Queensland Coal Assets , page-18
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Last
66.0¢ |
Change
-0.025(3.65%) |
Mkt cap ! $54.95M | |||
| Open | High | Low | Value | Volume |
| 67.5¢ | 68.0¢ | 66.0¢ | $2.536K | 3.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 9999 | 66.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 68.0¢ | 1742 | 1 |
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| JAT (ASX) Chart |