This is an administrative issue, there are no fines applicable, it is just a matter of how long it takes the company to get the required court order to 'make good' the error. PLS has to apply to the court for an order to rectify the error.
Below are some examples, and they have taken anywhere from 1 week to many months to get this resolved and start trading again. PLS will not trade again until it gets the court order. If it can't get it before the trading halt ends then it will have to go into suspension, and if it is suspended for more than 5 days it loses its ability to issue cleansing notices for 12 months.
Poseidon Nickel Limited
Golden Rim Resources Ltd
Superior Resources Ltd
Metalicity Limited
Cann Global Limited
If a significant person, eg a director, has sold any of the shares issued without a cleansing notice, then that makes this more complicated than usual and could delay the court process.
Ann: Trading Halt, page-68
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Last
$3.06 |
Change
0.040(1.32%) |
Mkt cap ! $9.210B | |||
| Open | High | Low | Value | Volume |
| $3.04 | $3.12 | $3.02 | $47.88M | 15.58M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 321604 | $3.06 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.07 | 269930 | 12 |
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| PLS (ASX) Chart |