Miranda: "The giving away free shares to GCN shareholders did infact conform with the ASX listing rules to obtain shareholder spread."
Apologies, but unclear at this stage that this is a fact. Without a detailed application and ruling by the ASX on this point then this statement can only be an opinion. Or do yuou know more? Meeting shareholder spread is a key point to any listing and shares cannot be given away in order to satisfy this criteria. Even an in specie distribution generally requires an ASX waiver.
Do you have some further information where it is completly clear that this does conform the ASX listing rules? A clear ruling by the ASX on this point would suffice, indeed a prior example of another company doing the same might do.
The facts as i see them are that there are two opposing statements regarding listing schedule, either by late April or by end June. Which comes after the prior statement that listing would be by end December 2011.
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