This is unbelievable. "On 20 June 2024, the Company presented a compliance plan to a Nasdaq Hearings Panel. Following deliberation, the Panel
decided to delist AHI's securities effective 30 July 2024."
Obviously the Nasdaq Panel's decision was price sensitive. AHI should have announced it to the ASX "immediately", under the ASX Listing Rules. Even though the shares are suspended, they still have to comply with the Listing Rules.
But instead there was no announcement of the decision, AHI just comes out after the fact and says "Oh by the way we are now delisted from Nasdaq. But don't worry, we plan to appeal."
I don't see how ASX can allow AHI shares to be reinstated to trading, given their attitude to the Listing Rules. According to AHI's quarterly report, "the ASX has the discretion not to reinstate AHI’s securities to official quotation should the Company fail to comply with the Listing Rules, the spirit of the Listing Rules, or if other information comes to light."
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- Ann: Nasdaq Determination
Ann: Nasdaq Determination, page-6
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