ASIC Determination Big Un Limited (ASX:BIG, or ‘BIG’) advises that the Australian Securities and Investments Commission (ASIC) has made a determination under section 713(6) of the Corporations Act 2001 (Cth) (Act) that BIG may not rely on section 713 of the Act (special prospectus content rules for continuously quoted securities) until 2 May 2019. This has arisen due to BIG not lodging its 31 December 2017 half-year report with ASIC by 15 March 2018. The practical effect of ASIC's determination is that if BIG wishes to issue a prospectus prior to 3 May 2019, it must comply with the full-form prospectus requirements of the Act. BIG advises that this is a discrete determination by ASIC and BIG is still in discussions with ASIC with regard to other matters and there is no certainty at this stage as to when the securities of BIG will be reinstated to quotation. The Company is currently working diligently towards completion of its reviewed half yearly accounts. At this stage, there remains uncertainty as to when these accounts can be lodged.
BIG Price at posting:
$2.22 Sentiment: Hold Disclosure: Held
