It sounds like a damage control response to me, and going off history, the response can’t be trusted.
Currently there have been no financials released for a long time so the answer there lays on speculation depending on if the cup is half full or half empty.
The company can hope to relist and share its other hopeful plans over the phone as much as it wants surrounding the matter but currently they are delisted, not just a further suspension, we’ll be back… delisted!
My understanding is it’s not as simple as just finding an auditor who will sign off on what ever it is they have been avoiding to show for the last 15+ months, and telling them “we’re ready now, press the go button please”.
It Won’t be signed off if the ins and outs don’t add up or dare I say it, ANOTHER unapproved loan has occurred — *speculation possibility only, not fact, who knows without any reports*
There is no lies in saying everybody still has their shares and are shareholders of the company. PHEW everybody sleep easy!
It’s not at that dire point yet (insolvency / wind up notice).
But what is failed to be delivered is,
You can’t do anything about your holdings, there is nowhere to easily sell them, ASX platform is gone
(I guess most have become used to that by now after however many months of funds continually locked up).
You can sell your holdings still, it’s up to you to find an off market buyer, complete the paper work yourself and send it all in to complete the transfer, if you wish to turn a paper /digital shares into anything of value beyond numbers on a certificate.
Goodluck finding a buyer tho, could offer me a top10 holdings amount for $1 and I would still laugh.
As a current and previous shareholder of private unlisted companies, correspondence, updates should be via email and mail if no email provided, but updates - I wouldn’t expect much correspondence from this point.
I Guess if you are stuck in this mess, even tho plenty have been belittled over the years simply for sharing their quite often well researched opinions on why to be wary with the Co, others with sharing their own what I read as honest warnings from previous experiences following, being a shareholder or dealing with previous companies controlled by the original board / family, there is no point in saying this is outcome is an unexpected one.
Best you can hope for is the re-listing fairytale somehow eventuates but that is simply in miracle territory.
Unless Cann Global has something unique and of value that a currently ASX listed company see’s fit to offer a take over bid, where your shares merge into the buying entity’s float for a possible exit then I’d say the frame for the printed digital shareholder certificate will hold more value then anything left here unfortunately.
Maybe shareholders will get a whole new company and ticker when the next new fad industry aligns with a bull market in a couple years.
Shareholders should be IMO putting their energy into asking if the directors have anything to be accountable for and what is legally expected of them given the silence and disregard to its heavy retail shareholder base but
if they would rather listen to gibberish, send emails and report back but not be accountable for things later on, try and shut down this talk and that talk to get an “I’m Proactive” badge to their name to be proudly shown to all then whatever helps one sleep at night I guess.
Time will tell eh
