ASX Listing Rule 12.1 requires that an entity's level of operations must be sufficient, in the ASX's opinion, to warrant the continued quotation of the entity's securities and its continued listing. In essence, it ensures that a listed company maintains a viable level of activity that justifies its continued presence on the market.
ASX Listing Rule 12.2 states that an entity's financial condition, including its operating results, must be deemed adequate by the ASX to warrant the continued quotation of its securities and its continued listing. In essence, if an entity's financial health is such that it's in danger of not being able to continue operations, the ASX may consider removing its securities from the official list, effectively halting trading
It appears the ASX can see through the CNJ announcements and realises the latest $1.2m raise will fund the legal settlement with the remaining $$$ going to paying off high interest loans. I wonder if my complaints were actually read or if this is just coincidence.
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