I’m not surprised to see an extension of voluntary trading suspension as I believe the explanation of this transaction requires at least two important information,
1. Receipt of deposit to confirm the deal is genuine and it is going through as per agreement.
2. Confirmation of TO to prove the transaction is not against general shareholders interest rather it is for their benefit.
Number 1 is due today, will get the confirmation on Monday. Number 2 will take some time prepare the agreement. I guess they were not ready to announce this so early and wasn’t expecting an explanation letter from asx. But I believe we will have both of them sooner rather than later.
This is all my opinion only. DYOR.
Ann: Request for Extension to Voluntary Suspension, page-49
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