The balance of the LITCE partly paid shares paid to $0.0001 and unpaid $0.0599 (LITCE) have now been de-listed and are subject to forfeiture; and the auction process commences. The Company must hold a public auction for the remaining forfeited LITCE partly paid shares within 6 weeks of the call date. The Company will provide the required notice of the time and place of the public auction. The LITCE public auction is open to all members of the public and will raise additional funds for the Company.
LITCE shareholders retain the right to redeem the forfeited LITCE partly paid shares, at any time up to or on the last Business day before the auction by paying all calls due on the forfeited shares.
not knowing the terms and conditions when the LITCE s were issued I can't comment on the companys
actions re auction. IMO it isn't logical...how many times do you have to say NO. More importantly
once a security is delisted from the ASX its worth zilch/nothing.The whole exercise is a Farce ....IMO
LIT Price at posting:
4.1¢ Sentiment: Sell Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)