"The securities of ******** will be suspended from quotation immediately under Listing Rule 17.2, at the request of ***, pending the release of an announcement regarding finalisation of a material partnership agreement"
They were also on the same listing with CGB for non-payment of the Annual Listing Fee.
Furthermore, this happened :- "The securities of the following entities will be suspended from quotation under Listing Rule 17.5 from the commencement of trading today, Tuesday, 1 August 2023, for not lodging the relevant periodic report by the due date."
Strangely, CGB were never penalised for non-submission of their own relevant periodic reports.
Mid-June there was an ann in a similar vein to what we frequently see here :- "Looking ahead, we remain steadfast in our commitment to innovation, growth, and delivering value to our stakeholders. We are actively exploring new opportunities for expansion, both geographically and through strategic partnerships. Our focus on customer-centricity and continuous improvement will continue to drive our success and ensure we stay ahead of the competition.."
Two months later, the MD resigned.
Incidentally, Two DAYS after his resignation... Administrators were called in (Voluntary Administration)
Funny enough, they also contracted a company to Monitor Social Media Platforms towards the end of CY 2022.
Furthermore, there are/were a few Subsidaries under their Umbrella - CGB have quite a few also. The majority of those subsidaries were registered in foreign juristictions. CGB also have subsidaries with similar registration status.
Anyway, imo, worth a read of the situation just for information if nothing else.
CGB Price at posting:
2.1¢ Sentiment: Hold Disclosure: Held
