Page 16 extract: ASX may agree to a short extension of the 1 and 2 year deadlines above for automatic removal if the entity can demonstrate to ASX’s satisfaction that it is in the final stages of implementing a transaction that will lead to the resumption of trading in its securities. For these purposes, being in the “final stages” of implementing a transaction means that the entity has:• announced the transaction to the market;• signed definitive legal agreements for the transaction (including for any financing required in respect of the transaction);• if the transaction requires a prospectus or product disclosure statement to be lodged with the Australian Securities and Investments Commission (“ASIC”), lodged that document with ASIC and it is not the subject of a stop order or other regulatory action by ASIC; and• if the transaction requires approval by security holders or from a governmental agency or financier, obtained all such approvals.The extension, if granted, will usually be for no more than 3 months (it may be shorter if ASX considers that the transaction ought to be reasonably capable of being consummated in a lesser period).
Before it will grant the extension, ASX must be satisfied that the entity is reasonably capable of consummating the transaction and will be ready for trading in its securities to resume (including having lodged all outstanding accounts with ASX) within the period of the extension.
Good Luck to Us ALL !!!!!!!!!
BSR Price at posting:
1.3¢ Sentiment: None Disclosure: Held
