PDN

2.53%

$11.74 paladin energy ltd

Ann: 2017 Bondholder Consent Solicitation and TSX Listing Update, page-9

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ura_bull

7,245 Posts.

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19/05/17

11:14

Post #: 24790404
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Originally posted by szaba_the_hut ↑

This may help....

Basically TSX will delist if they have doubts about ongoing viability. Join the club TSX. It all depends on how quickly we can ink a binding deal for plan C sale of LHM or Plan B debt restructure neither of which are a done deal at this stage.

from TSX listing requirements

(2) Financial Condition and/or Operating Results

Sec. 709.

TSX will normally consider the delisting of securities of a listed issuer if in the opinion of TSX, the financial condition and/or operating results of the listed issuer appear to be unsatisfactory or appear not to warrant continuation of the securities on the trading list.

Sec. 710.

Specifically, securities of a listed issuer may be delisted if
All Issuers
(a)
(i) the listed issuer's financial condition is such that, in the opinion of TSX, it is questionable as to whether the listed issuer will be able to continue as a going concern. TSX will consider, among other things, the listed issuer's ability to meet its obligations as they come due, as well as its working capital position, quick asset position, total assets, capitalization, cash flow and earnings as well as accountants' or auditors' disclosures in financial statements regarding the listed issuer's ability to continue as a going concern; or
ii) the listed issuer has ceased, or has expressed an intention to cease, to be actively engaged in any ongoing business; or
iii) the listed issuer has discontinued or divested a substantial portion of its operations, thereby so reducing its business as to no longer merit continued listing; or
Industrial Issuers
(b) the listed issuer fails to have:
i) total assets of at least $3,000,000; and
ii) annual revenue from ongoing operations of at least $3,000,000 in the most recent year.
Criteria (b)(i) and (ii) above do not apply to a research and development listed issuer; however, such a company may be delisted if it has failed to spend at least $1,000,000 on research and development, acceptable to TSX, in the most recent year; or
Resource Issuers
(c)
(i) in the most recent year, the listed issuer has failed to carry out at least $350,000 of exploration and/or development work that is acceptable to TSX and has failed to generate revenue of at least $3,000,000 from the sale of resource-based commodities; or
ii) the listed issuer does not have adequate working capital and an appropriate capital structure to carry on its business.

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Thanks - should put the jets on them to hurry the valuation process I guess...
PDN Price at posting: 6.9¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last $11.74		Change 0.290(2.53%)		Mkt cap ! $3.511B

Open	High	Low	Value	Volume
$11.54	$11.96	$11.27	$34.85M	2.980M

Buyers (Bids)

No.	Vol.	Price($)
2	39237	$11.72

Sellers (Offers)

Price($)	Vol.	No.
$11.75	307	1

View Market Depth

No.	Vol.	Price($)
2	39237	11.720
3	4991	11.710
2	163	11.690
2	10163	11.680
1	10163	11.650

Price($)	Vol.	No.
11.750	307	1
11.760	6930	1
11.770	307	1
11.780	306	1
11.790	305	1

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PDN (ASX) Chart

Ann: 2017 Bondholder Consent Solicitation and TSX Listing Update, page-9

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Ann: 2017 Bondholder Consent Solicitation and TSX Listing Update, page-9

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