well, what sort of solution do you think will work?.....given how hardball ASX can play, and i am aware of how tough they can be, where someone in the office just says "no", then little can be done. The risk could be that they need to do a recompliance listing, meaning a whopping raise as well as having acceptable projects to inject in......and, you dont just pick any project, or tenement and get back on the boards, ASX scrutinise every last detail.
Is it right/fair?? i dont believe so, i dont think the ASX is acting in the best interest of shareholders, but the fact remains. Plenty of other stocks get a 6 month warning prior, so, did your board get that warning? and not announce it, or did the ASX pluck 7th May out as a convenient end point?
As for establishing another market for the stock.....what market???....i dont think(and stand corrected) that you can simply switch to Chi-x only....NSX???......what else is there, other than off market transfers?
The board.....what is their stance??.....they can probably wait it out for years, whilst suspended, they can sell a few Atom's off to cover their fees and admin, other than that, they need do nothing...2 years later you end up delisted but are still shareholders.
Anyone wanting to risk a long drawn out scenario needs lots of patience, and acceptance of basically zero liquidity for an unknown period...... a worst case scenario being paying 150 squid to have a mob like Delisted take them off your hands in order to claim the loss.
No doubt theres a chance it could be resolved quickly, but holders, both present and future need to be aware of the potential risk. Remember too, management probably wont lose out, and i'm not speaking ill of them, i have met them and have no negative views about them
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