movement, page-77

Fluffy, bidordeal - a website set up just 6 months ago in Perth. Yet another coupon deal site. Still only services Perth. I could pay a guy in India $200 and he could set up the same kind of website and i could have it online this afternoon. P1 trumpet this as one of their top products. Go figure.

1 week after it was first raised, has anyone been able to confirm if P1 can actually list given ASX listing rules on shareholder spread and free shares/in specie distribution? At this point in time, unless someone can point to this hurdle being overcome by a waiver being granted i can only assume this could be a problem. Thoughts please?

As a refresher, to list on the ASX a company must have an adequate spread of shareholders, which cannot be met by giving away free shares. As far as i can tell, P1's shareholder list will be made up of almost enitrely GCN recipients who were granted free shares.