Ann: Voluntary Suspension, page-76

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dugsab

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26/02/22

09:40

Post #: 59838753
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Originally posted by ChasingProfits: ↑

Everyone needs to relax here, the application and approval from the court will take at max 2 weeks. This happened in another stock I hold AZL last year and it was resolved within a week and no impact on share price. In that scenario It related to the issuance of options which hadn’t been continuously quoted for three months prior to the issuance date and as a result it was regarded as a new class of securities. The company submitted a cleansing notice when they should have issued/submitted a cleansing prospectus instead. This may be the case here or they simply didn’t submit the cleansing notice on time. The company technically breached the rules in the corporations act and therefore need approval from the courts to fix the technicality, think of it as a simple admin error done by the company’s secretary. I’ve see this plenty of times from large and small companies and it is nothing to worry about. Wake me up when we are close to $1.50 by the end of June when we have secured our rise and fall off take agreement with one of the majors and debt financing. Cheers, CP.

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18 November 2021 - Trading halt.

22 NOV 2021 - Voluntary suspension (pending an application to the Supreme Court).

23 NOV 2021 - Court Orders Confirmed.

24 NOV 2021 - Reinstatement to Quotation.

TOTAL 4 TRADING DAYS

LKE Price at posting: 90.5¢ Sentiment: Sell Disclosure: Not Held
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