Hong Kong listing

  1. 11,595 Posts.
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    I'm becoming somewhat pessimistic about our listing in the near future due to the fact that listing applications are only valid for six months from date of lodgement and then they lapse and can't be automatically extended. Our lodgement was dated 10Apr so it needs to receive approval prior to 10Oct as it will lapse on that date. Furthermore there have been so few approvals granted to other companies to list in the last six weeks so it would appear that the HKEx is currently reluctant to approve applications for whatever reasons.
    If our application lapses, then we can update our application and re-lodge it and pay the initial listing fee again and join the queue that currently exists of some 90 Companies and hold another General Meeting to approve the HK share placement or if the Company believes our application is not going to be successful then it can drop the idea completely.
    So we have less than five weeks for approval to be granted and I think Management would already know which way this is going to fall but shareholders don't.
    At least we can be optimistic about the gold price and Faboliden.
 
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