you are correct in saying the extension was expected to end on the 3rd June or after an announcement. The ASX would typically reinstate trading the following day after an announcement regarding the reason for the voluntary suspension and bringing the reason for the suspension to a conclusion of sorts. It may well be that the ASX does not believe the market update sufficiently resolves the reason for the voluntary suspension right now as there are still many steps required to transition the current situation and bring it to its new form. That is my best guess. It is always at the discretion of the ASX as to allow a halt, suspension, or to reinstate quotation.
At the moment IOR is assigned a status of Reconstructed which recognises the changes made, most likely the new finance deal and divesting of the India business. This recognition may also be the reason why quotation has not resumed as the reconstruction is not compete and it is the resolution for the initial suspension request. At the EGM approval has to be given for it to all come together. However it could start trading again as reconstructed or on a deferred basis so keep an eye on it especially in the absence of another Ann.
It will either start quotation or we should see another Ann.
- Forums
- ASX - By Stock
- ELE
- Ann: Market Update
Ann: Market Update, page-12
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)