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Don't you think the ASX are complicit in allowing continuous...

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Aussie Eagle

2,117 Posts.

583

04/03/24

19:20

Post #: 72739084
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Originally posted by mangy: ↑

Relisting is rare but i found one.
https://www.*********.com.au/2023/01/16/virgin-australia-primed-for-asx-relisting/
Relisting after involuntary removal must be hard. After all this is what the ASX currently thinks of CGB:

The powerto terminate an entity's listing is not one that ASX exercises lightly, since it takes away from the entity's securityholders the ability to trade their securities on a licensed securitiesexchange. However, it is a power that ASX willexercise to protect the reputation and integrity of the ASX market and toprevent future investors from buyinginto a listed entity that in ASX's opinion should not be listed on the ASXmarket. https://www.asx.com.au/documents/rules/gn33_removal_of_entities.pdf

Delisting will no doubt negatively impact any pending legitimate deals. If any pending deals survive this event then that would ring alarm bells.

By last report there was 8 mil cash in the kitty and delisting is likely to result in reduced disclosure and reporting requirements, reduced accountability, and scrutiny.

I really, really hope shareholders get their fair share of remaining assets but it won't be given freely.

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Don't you think the ASX are complicit in allowing continuous extension after extension after extension ?

"ASX willexercise to protect the reputation and integrity of the ASX market"

The ASX are a listed company.

They will protect themselves within their own market.
Why wouldn't you protect your own front door.

CGB Price at posting: 2.1¢ Sentiment: Hold Disclosure: Held
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