It doesn't appear to be a simple - hey here are our accounts,...

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Christopher67

986 Posts.

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05/03/24

09:48

Post #: 72745378
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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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It doesn't appear to be a simple - hey here are our accounts, here is the fee, relist us please.

They are going through the process from scratch.

Admittedly, CGB has plenty of experience, with umpteen prospectuses when they transformed the company in 2019.

Virgin also made a profit,,,, which is something CGB has never done.

Also their delisting was different, it was voluntary as opposed to kicked off for failing to lodge required documents.

CGB Price at posting: 2.1¢ Sentiment: Sell Disclosure: Held
3 Upvote

0 Great analysis

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