where is the announcement ?, page-32

the entity making an announcement updating the market on the current state of affairs before the trading halt has expired and trading in its securities then recommencing after the announcement has been made. Other times, it may be appropriate for the entity to ask for a voluntary suspension under Listing Rule 17.2 (see below) to allow more time for the situation to unfold.
If the situation is not resolved to ASX’s satisfaction before the expiry of the trading halt, ASX may have little choice but to consider suspending quotation of the entity’s securities under Listing Rule 17.3.
4. Voluntary suspensions 4.1 What is a voluntary suspension?
The expression “voluntary suspension” refers to a suspension of a listed entity’s securities from quotation requested by the entity under Listing Rule 17.2.
Listing Rule 17.2 states:
ASX may at any time suspend an entity’s securities, or a class of them, from quotation at the request of the entity. ASX may require the request to be in writing. ASX is not required to act on the entity’s request. The entity must tell ASX each of the following.
? Its reasons for the suspension.
? How long it expects the suspension to last.
? The event it expects to happen that will end the suspension.
? That it is not aware of any reason why its securities should not be suspended.
? Any other information necessary to inform the market about the suspension, or that ASX asks for.
ASX Operating Rule 3300 states:
If Cash Market Products are suspended from quotation or trading the market for those products will be suspended and the products may only be traded with the written permission of ASX. At the termination of the period of suspension trading will proceed as specified in the Procedures.
ASX Operating Rule Procedure 3300 states:
At the termination of the period of suspension, trading in the Cash Market Products which are the subject of the suspension proceeds to Open Session State after a period of Pre-Notice Received Session State.
Again, the “open session state” refers to the state that the ASX market platform operates in during normal trading, where overlapping buy orders and sell orders are matched in accordance with price/time priority. The “pre-notice received session state” refers to the state that the ASX market platform operates in after ASX has received a market sensitive announcement (discussed in section 6 below). When a security is in that state, ASX market participants are able to place, amend or cancel orders for, but are not able to trade in, the security. This allows the order book to fill and supply and demand to emerge.
4.2 The effect of a voluntary suspension
When ASX agrees to a voluntary suspension in an entity’s securities under Listing Rule 17.2, those securities are placed into the “suspend state” on the ASX market platform. In that state, ASX market participants are not able to place orders for, or trade in, the securities. Any existing orders for the securities in the ASX trading platform are automatically purged. This treatment reflects the longer term nature of a suspension compared to a trading halt.
Again, under Part 6.1 of the ASIC Market Integrity Rules (Competition in Exchange Markets) 2011, whenever ASX places a security into, or takes it out of, a trading suspension, it is required to notify that action to all other