Having previously been involved in the process of an ASX listed...

Having previously been involved in the process of an ASX listed technology company that was suspended for numerous reasons, I post the following to provide some transparency to the overall process. I would add that suspension is not all that unusual given the level of ongoing compliance required for listed entities and further, there is a well documented resolution process in place for a suspended ASX listed company to follow in order to be reinstated.

For contect, I have delved into the AKP suspension a little more pursuant to Listing rule 12.2 which was the catalyst for today's ASX action. Currently, AKP has sufficient cash to get them to the end of April 2024.

Listing rule 12.2 states an entity's financial condition (including operating results) must, in ASX's opinion, be adequate to warrant the continued quotation of its securities and its continued listing.

AKP will now be subject to ASX being satisfied, in accordance with ASX Listing Rule 12.2, that AKPs financial position is adequate to warrant the continued quotation of its securities and continued listing on ASX. Discussions between AKP and ASX will ensue on the process for making a submission to seek reinstatement to trading of AKP shares.

AKP will be required to lodge a formal submission with ASX in relation to its compliance with ASX Listing Rule 12.2 and request confirmation from ASX of AKP's view that it satisfies ASX Listing Rule 12.2,and therefore that AKP shares should be reinstated to trading.

Following lodgement of its submission, AKP would have been in ongoing discussions with ASX with respect to its meeting of specified requirements and the reinstatement to trading.

In this particular case, ASX will generally not consider reinstating a company’s shares to trading until the company has lodged the final activities and cash flow report for the period ended 31 December 2024("Final Report 2023"); lodged its reviewed half year accounts for the half year ended 31 December 2024("Half Year Accounts"); provided detailed submission to ASX on AKP's proposed level of activities and how it intends to fund those proposed activities for the next 6 to 12 months having regard to AKP's actual operations and financial performance (including operating cash flows) to date; and provided to ASX a pro forma which clearly demonstrates AKP's working capital and financial position is sufficient to support the Company’s planned activities (having regard to AKP's actual operating results to date), and ASX is satisfied that AKP is in compliance with ASX Listing Rule 12.2 in relation to its financial condition ("ASX's Additional Requirements").

After meeting all of the above, AKP shares would be reinstated for trading on the ASX.