Hi Neil,
I see on the bottom of your re-post, you have added a link.
That announcement, dated 14th of January 2019, does state that the Approval letter had been received, and that the company would be re-instated at a date to be advised by the ASX, not earlier than 25th of January.
Subject to compliance with the conditions set out in the letter.
I think that is a very vital point to add, that there were conditions attached to the approval.
On the 25th of January,
CGB extended the offers to allow additional time for settlement of the transactions.
https://newswire.iguana2.com/af5f4d73c1a54a33/cgb.asx/6A917418/CGB_Supplementary_Prospectus
On the 8th of February
CGB restructured its deal with Medcan, necessitating a further extension.
https://newswire.iguana2.com/af5f4d73c1a54a33/cgb.asx/6A919434/CGB_Supplementary_ProspectusOn the 21st of February, CGB now announced they need to re-seek approval, due to the restructured transaction. the 6 week delay is primarily for the calling of an EGM....
https://newswire.iguana2.com/af5f4d73c1a54a33/cgb.asx/6A920915/CGB_Supplementary_Prospectus
Now note the EGM was called, on the 31st of May.
At what point did the company realise, they were never on track to re-list by April 2019, when they had never called the EGM that was required, as noted on 21st of February?
The EGN was not announced on 15th of May, nor was the requirement for it first announced at that time, as indicated by the Conclusion in your first post Neil.
May i put forward an hypothesis, that perhaps the ASX would not have investigated, were the company to have continued with their original deal, that had been approved by the ASX in January? And that any additional scrutiny, above and beyond the clear ASX rules on independant directors on the board, was caused by the changes made by the company?
https://www.asx.com.au/documents/asx-compliance/cg_principles_recommendations_with_2010_amendments.pdfThe ASX guidelines to admission also make this clear, that the Entity must still meet all of the requirements for admission.
https://www.asx.com.au/documents/rules/gn01_admission.pdf
