Jefferies in relation to your comment this morning,
What P1 have done to list is fine and is by no means illegal, to keep it simple you can do a public float where there is much more paperwork involved, Now if you do a compliance listing as P1 have done and do a inspecie distribution you need 400 share holders. ultimately P1 must have had enough cash backing behind them not to do a float to raise money.
Its my personal opinion and this is not based on fact but theory of how buuisness and public listings goes which i have had my fair share of, P1 has not yet done all its formalities that it needs to go through thus i think by the time things get of the ground you could be edging towards the end of the year the only alarm bells that ring to me are that in an ANN that i read yest for GCN is that p1 are appointing a team to do there due diligence!!! now by this i would have thought they mean a law firm/accountants have just been appointed.
I quote your message.
"In rubbishing my doubts, Miranda1 said (among other things): "Put simply if P1 would not have met the listing requirements the ASX would have challenged them on the proposed listing and this has not happened."
I was not aware that P1 had yet put in an application. In fact the various announcements suggest that application is some way down the track. So if no application, then why would ASX have challenged them yet?"
in response to that my simple answer would be NO i dont think they have FORMALLY approached the ASX. But i do think they have met the listing requirements (so far). I would be interested in knowing which law firm they are dealing with does anybody know or has this been discussed?
GCN Price at posting:
2.9¢ Sentiment: Sell Disclosure: Not Held
