It’s now over four weeks since the company expected the shares to be allocated, as per their 10th July announcement.
What were the company thinking of, allocating the shares (and presumably receiving the cash) when they still hadn’t got firm, unconditional clearance from the ASX to relist? Which they clearly haven’t, as per their announcements. What would have happened if one of the signatories had died in the meantime? What if the ASX are not satisfied with the documents when they arrive? IMO they should have had ALL the ducks lined up ready to go before issuing the shares. Issue shares, relist.
There are still announcements which have to be made prior to relisting, such as the quarterlies. The CGBRep has declined to confirm that the ASX are forbidding the issuance of these documents, so why hasn’t the company done so?
CGB Price at posting:
3.7¢ Sentiment: None Disclosure: Not Held
