The ASX probably ruled the acquisition of Blackrock was a change of activities i..e. moving from oil to coal. When they rule this its like a new listing and you have to comply with the listing rules like you were a new company applying hence the need of a share price of a minimum 20 cents. Really dumb but ASX have their rules!
It has nothing to do with dilution or anything else, just a compliance issue to take care of.
Ann: JAT to Acquire Queensland Coal Assets , page-18
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82.0¢ |
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Mkt cap ! $68.27M | |||
| Open | High | Low | Value | Volume |
| 77.0¢ | 82.5¢ | 76.5¢ | $528.5K | 664.4K |
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| No. | Vol. | Price($) |
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| 1 | 3900 | 81.0¢ |
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|---|---|---|
| 82.0¢ | 11000 | 1 |
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