Because they can't say it.
Imo, this is the main information in this announcement : They can't give any reason for the suspension because this simple fact will give an indication, about something they don't want to disclose.
What could that be ?
And why ASX is agreeing with that : a technical update disclosure that doesn't want to disclose why the disclosure is delayed ?
A suspension with no justification ?
ASX grant a suspension or an extension of suspension to allow for a transaction to occur.Or at least, some external event of vital importance.
For example, ASX would not grant a suspension to allow 4DS to find a new research facility after their agreement with Imec was terminated (if we read correctly in the condiment).
4DS should have already found this new research facility and be negotiating the conditions of a new agreement.
4DS should be waiting for a well identified external event to occur.
No suspension for a vague search for a solution after something bad occurred."ASX may agree to suspend quotation of an entity’s securities (or continue an existing suspension) where ASX is satisfied that the entity is in genuine financial difficulties and continued trading in its securities is likely to be materially prejudicial to its ability to complete a transaction critical to its continued financial viability."
ASX agreed with the absence of reason for the suspension in the statement, because they know that disclosing the reason could compromise a vital transaction. And because it's in the best interest of shareholders.
So there are some questions :
1 - If 4DS is negotiating an agreement with a new research facility, in what way continued trading in its securities could be materially prejudicial to its ability to reach this agreement ?
2 - What, in the reasons for a suspension, could be prejudicial to a transaction ?
3 - What, in the fact of releasing a simple technical update to the market, could be prejudicial to a transaction ?
Any ideas ?
grd
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