Let ACU Relist Mr. ASX, page-5

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12/10/17

12:19

Post #: 27851703
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Originally posted by theqwertman ↑

The ASX are worried that they allow the company to raise money on the back of someting that is put to shareholders, only to see the product banned in Australia.So the purpose of the raising is false, so they are trying to protect the public, as is their duty.

ASX code: FEL 's RTO went through the same thing as they had a Norfolk Island Gambling license and a letter backing them from Jamie Nettleton from Addisons Lawyers, who is the go to man in Australia for all the major international betting companies. The ASX would not allow them to raise any money as the Norfolk Island Gambling Commission was under investigation and was later closed by the Minister in charge, for failing to do proper due dilligence on a company that they granted a license to.

So, the Lottoland protests are an issue that ACU hs been dragged into and the lobbying has begun from both sides. In the end, it will get settled and Lottoland will be able to continue, though they may have to pay a consumption tax. If ACU have to do the same then it will effect their gross income.

So it's the unknown which is holding this up and ACU will be bleeding money as every day goes on and making any capital raisings harder. ACU have stated what they want to do, which is raise A$5m to A$6.5m to fund their deal with Zeal but this deal has a chance of producing a product that is later banned.

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yes fair assumption however an authority cannot protect against something which does not exist, i.e. to say there are no restrictions currently covering this form of business as it is currently being promoted or operated. the ASX has a bigger responsibility in governing existing laws, rules and regulations.

ACU Price at posting: 1.5¢ Sentiment: Buy Disclosure: Held
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Let ACU Relist Mr. ASX, page-5

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