hey guys does anyone know much about this, does it mean BRN listing price will be 20c
Section 3.9 (the 20 cent rule) – adopting a new policy on the application of the “20 cent rule” to recompliance
listings.
Page 2
The new policy recognises that where an entity’s securities have been trading on ASX at less than 20 cents,
having to undertake a consolidation or other restructure to facilitate compliance with the 20 cent rule prior
to, or in conjunction with, a capital raising can impose structural, timing and other impediments to the
completion of a transaction that might otherwise be in the interests of an entity and its security holders. In
such a case, ASX will consider a request from the entity not to apply the 20 cent rule provided:
the issue price or sale price for any securities being issued or sold as part of, or in conjunction with,
the transaction:
is not less than two cents each; and
is specifically approved by security holders as part of the approval(s) obtained under Listing
Rule 11.1.2; and
ASX is otherwise satisfied that the entity’s proposed capital structure after the transaction will satisfy
Listing Rules 1.1 condition 1 and 12.5 (appropriate structure for a listed entity).
The new policy also recognises that where an entity is not proposing to undertake a capital raising as part
of, or in conjunction with, a significant change to the nature or scale of its activities, the 20 cent rule has no
application. In that case, if ASX has any concerns about the level at which an entity’s securities are likely
to trade following the significant change, it will address those concerns on a case-by-case basis. This may
include requiring the entity to consolidate or otherwise restructure its share cap
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Last
27.5¢ |
Change
-0.025(8.33%) |
Mkt cap ! $539.6M |
Open | High | Low | Value | Volume |
29.5¢ | 31.0¢ | 27.0¢ | $7.452M | 25.81M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
39 | 1085587 | 27.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
27.5¢ | 59750 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
37 | 1032069 | 0.270 |
19 | 651021 | 0.265 |
28 | 1057162 | 0.260 |
19 | 592447 | 0.255 |
56 | 806832 | 0.250 |
Price($) | Vol. | No. |
---|---|---|
0.275 | 59750 | 3 |
0.280 | 920608 | 11 |
0.285 | 272692 | 6 |
0.290 | 546814 | 14 |
0.295 | 913587 | 11 |
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