I am very happy that the ASX have asked AB1 to recommence...

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Maysgr

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23/05/19

10:04

Post #: 38704330
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Originally posted by DoubleDown! ↑

Off to federal court we go! This happens a bit in spec world. Sloppy management of cap raises and announcements.
The creation and announcing of new share issues and compliance with listing requirements is taken very seriously. This AB1 need to apply to the Federal Court to retrospectively formalise the issues and announce them though clensing statements.
Nothing underhand has happened, we have been informed (I hope!) of the shares issued, it just hasn't been announced according to listing rules.
Management are to blame for this, they have been far too sloppy in the last year. This clensing statement, their 4C reporting and the new issue failed scrutiny by the ASX. All these things are designed to ensure the mug punter has the opportunity to stay informed on the state of the company. Hopefully AB1 tightens up its paperwork and reporting from here on in. They are in the public eye.
It could take anywhere from two weeks to a month to trade in this stock again, depending on how busy the Federal Court is.

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I am very happy that the ASX have asked AB1 to recommence quarterly 4c's.

I think the ASX have mandated this so that the market, and shareholders, remain fully informed about AB1's activities and cash flows on a more regular basis (quarterly, as opposed to half yearly). The ASX are effectively controlling the maximum time period information must be released in.

Part of this has come about, in my opinion, due to the number of agreements, acquisitions and collaborations AB1 have announced in the last 7-8 weeks.

I fully support the ASX moved and AB1 should have no issues in complying with it.

AB1 Price at posting: 15.0¢ Sentiment: None Disclosure: Held
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