Originally posted by matchbox20
I mentioned 1PG a while ago.
*-Former high flyer 1Page to exit Australia;says ASX doesn't want more pot stocks
From the article,ASX says no limits but pointed to guidelines,
"These state that businesses that want to list cannot have a vague
or ill-defined business model,the business has to more than a concept,
and companies that have not secured "key licenses,government approvals,
intellectual property rights or other...rights it will need to operate its business"
may not meet listing requirements.
Brings us back to Bas's question.
Morning
@matchbox20
Well ... all that the existing investors and potentially new investors can do is ask questions and read as much as they can.
Given what was noted in the legal opinion
re the acquisition of licences and the regulatory environment across the different state jurisdictions etc. in the 'Recompliance Prospectus' (see my post
36843459
) - and connecting what you have posted and quoted
re 1Page and 'pot stocks' on the ASX - this might well be where the holdup to re-compliance and re-listing lies?
We can not know with any certainty. However, drawing conclusions and supporting those conclusions with the available evidence is called basic research - in my opinion.
Perhaps, the ASX is asking, "...
do you have all of your licences in place to carry out your proposed business / change of activity" After all ... the legal and regulatory compliances are noted as
requirements in your prospectus.
It seems to me, and there appears to agreement on the topic here, that a general update on the re-compliance and re-listing progress could have been issued by QBL at some point prior to it distributing its 7th Supplementary Prospectus?
In the interim, holders and potential holders can better inform themselves by reading some of the ASX Guidance Notes.
GN12 might be a good start.
https://www.asx.com.au/documents/rules/gn12_changes_to_activities.pdf
It is a bit dense and technical in parts but enjoy the reading and the weekend.
