Ann: Appendix 4D - Half Year Report 31 December 2022, page-10

"...Medify is assuming there was intent behind the suspension, impossible to really know."

Well, @Roybatty07, let's look at some facts.

On November 29, 2022, the ASX wrote to PuriflOH about its failure to comply with Listing Rules 4.7.3 and 4.10.3 relating to governance.

It ordered PuriflOH to correct its non-compliance by lodging updated corporate governance statements and a completed Appendix 4G for the years ended June 30, 2021 and June 30, 2022.

The ASX gave PuriflOH 14 days to comply. PuriflOH failed to do so.

The ASX then emailed and phoned director Simon Lill and/or chairman Carl Le Soeuf.

I presume the ASX reminded directors that Appendix 4G is an important document and failure to lodge could/would lead to a trading suspension.

Lill and/or Le Souef were unmoved.

Then, having given directors at least two months to consider - and reconsider - their position, the ASX found its patience nearly exhausted.

Still, it gave Lill and Le Souef another chance. They could avoid suspension if they complied by February 14.

They didn't. The ASX suspended trading on February 15.

Le Souef had an opportunity to comment on governance conversations with ASX when he presided over the lodgement of interim accounts on March 1, one day after deadline.

He had nothing to say about the matter.

In summary, Lill and Le Souef had an option - Do something or do nothing. They knew that doing nothing would lead to suspension. So they did nothing.

Which leads to a question - Is suspension in the best interests of shareholders? I doubt it would bother Carl Le Souef. He owns Dilato Holdings. Dilato controls 18.4m shares - 58.41pc of the company. Simon Lill owns some 288k units.

Other notable shareholders include wealthy Americans Bill Parfet and Andra Rush. They have 5.3m and 650k units. They may well have written down the worth of their stakes to near zero.

No, the ones hurt most by suspension would be around 950 small holders. They're locked in. For how long? - Until it suits Le Soeuf and Lill to change their minds.