Thanks @Neil1959 and @Raggertooth for getting in touch with BPG, appreciate this, please keep us all informed if/when you hear anything.
From what I understand, the suspension could be for a number of reasons; my guess/guesses;
1. Change in business activities. In one single deal with Sparkles, BPG have gone from being a diverse distribution company and wine sales, to a Crypto Exchange.
Not that this was a bad thing, but I don't believe Share Holders got a say in this.
2. The Soarlabs deal gave Soarlabs 49% ownership of BPPL (subsidiary of BPG). The 'backdoor listing' rule IMO would apply if anyone related to Soarlabs acquired a further 2% of BPPL taking them to a majority. This would put Share Holders at the mercy of Soarlabs, not BPG, in terms of the exchange.
I believe there are multiple connections that may suggest those is the case here.
However, I'm not phased at this point. Our money is safe whilst this is sorted through, if BPG satisfy all of the ASX requirements we should be on course.
Purely my speculation however, please DYOR.
Cheers
MSN
BPG Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held