Ann: Response to ASX Price Query-XPE.AX, page-6

ABN 89 122 203 196 T 03 9642 0655
Level 6, F 03 9642 5177
412 Collins Street E [email protected]
Melbourne VIC 3000 www.xped.com
Xped Limited
X P E D . C O M M A K I N G T E C H N O L O G Y E A S Y A G A I N
25 August 2016
Ms Kate Kidson
Principal Adviser, Listings Compliance
ASX Compliance Pty Limited
Level 4 North Tower Rialto Towers
525 Collins Street
Melbourne, VIC, 3000
By email: [email protected]
Dear Ms Kidson,
Re: Xped Limited ASX price query
We refer to your letter dated 24 August 2016 to Xped Limited (ASX:XPE) (Company)
regarding a change in the Company’s share price from 18 August 2016 to 24 August 2016.
In light of the price change, you have asked the Company to respond to four questions. The
Company’s response to each question is set out below.
1. As previously announced, the Company has entered a collaboration and marketing
agreement with Telink Semiconductor (Shanghai) Co. Ltd (Telink) and subsequently a
licensing agreement with Telink (see ASX announcements of 5 May 2016 and 4 July
2016). Further to the entry of those agreements, the Company and Telink have been
exploring what other opportunities there may be between the companies moving
forward. No further agreements have been entered by the parties to date, however, the
parties are continuing their discussions as to potential future opportunities. The
Company will update the market as required if and when any progress is made in relation
to those discussions, however, those discussions are uncertain and there can be no
assurance that there will be any further arrangements or agreements entered with
Telink.
The Company is not otherwise aware of any information concerning it that has not been
announced which, if known, could be an explanation for recent trading in the securities of
the Company.
2. See answer to 1 above.
3. The Company is not aware of any other reason for the price change in the securities.
4. The Company is in compliance with the Listing Rules and, in particular, Listing Rule 3.1.
Yours faithfully
Julie Edwards
Company Secretary
Xped Limited
ASX Compliance Pty Limited
ABN 26 087 780 489
Level 4 North Tower Rialto Towers
525 Collins Street
Melbourne VIC 3000
www.asx.com.au
Email: [email protected]
Direct: +614 3 9617 8625
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24 August 2016
Julie Edwards
Company Secretary
Xped Limited
By email only
Dear Ms Edwards
Xped Limited (the “Entity”)- ASX Price Query
We note the change in the price of the Entity’s securities from a high of of 6.1 cents on
18 August 2016 to a closing price of 4.4 cents today.
In light of this, ASX asks you to respond separately to each of the following questions:
1. Is the Entity aware of any information concerning it that has not been announced to the
market which, if known by some in the market, could explain the recent trading in its
securities?
In responding to this question, please consider in particular whether the Entity is aware of any
information that its earnings for the 6 month period ended on 30 June 2016:
a) are likely to differ materially (downwards or upwards) from any earnings guidance it has
given for the period; or
b) are likely to differ materially (downwards or upwards) from its earnings for the prior
corresponding period?
2. If the answer to question 1 is “yes”:
a) Is the Entity relying on Listing Rule 3.1A not to announce that information under Listing
Rule 3.1?
Please note that the recent trading in the Entity’s securities would suggest to ASX that
such information may have ceased to be confidential and therefore the Entity may no
longer be able to rely on Listing Rule 3.1A. Accordingly, if the answer to this question is
“yes”, you need to contact us immediately to discuss the situation.
b) Can an announcement be made immediately?
Please note, if the answer to this question is “no”, you need to contact us immediately
to discuss requesting a trading halt (see below).
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c) If an announcement cannot be made immediately, why not and when is it expected that
an announcemant will be made?
3. If the answer to question 1 is “no”, is there any other explanation that the Entity may have for
the recent trading in its securities?
4. Please confirm that the Entity is in compliance with the Listing Rules and, in particular, Listing
Rule 3.1.
When and where to send your response
This request is made under, and in accordance with, Listing Rule 18.7. Your response is required as
soon as reasonably possible and, in any event, by not later than half an hour before the start of
trading (ie before 9.30 am AEST) on Thursday, 25 August 2016. If we do not have your response by
then, ASX will have no choice but to consider suspending trading in the Entity’s securities under
Listing Rule 17.3.
You should note that if the information requested by this letter is information required to be given
to ASX under Listing Rule 3.1 and it does not fall within the exceptions mentioned in Listing Rule 3.1A,
the Entity’s obligation is to disclose the information “immediately”. This may require the information
to be disclosed before the deadline set out in the previous paragraph.
ASX reserves the right to release a copy of this letter and your response on the ASX Market
Announcements Platform under Listing Rule 18.7A. Accordingly, your response should be in a form
suitable for release to the market.
Your response should be sent to me by e-mail at [email protected]. It should not be sent
directly to the ASX Market Announcements Office. This is to allow me to review your response to
confirm that it is in a form appropriate for release to the market, before it is published on the ASX
Market Announcements Platform.
Listing Rule 3.1
Listing Rule 3.1 requires a listed entity to give ASX immediately any information concerning it that a
reasonable person would expect to have a material effect on the price or value of the entity’s
securities. Exceptions to this requirement are set out in Listing Rule 3.1A.
The obligation of the Entity to disclose information under Listing Rules 3.1 and 3.1A is not confined
to, nor is it necessarily satisfied by, answering the questions set out in this letter.
In responding to this letter, you should have regard to the Entity’s obligations under Listing Rules 3.1
and 3.1A and also to Guidance Note 8 Continuous Disclosure: Listing Rules 3.1 – 3.1B.
Trading halt
If you are unable to respond to this letter by the time specified above, or if the answer to question 1
is “yes” and an announcement cannot be made immediately, you should discuss with us whether it
is appropriate to request a trading halt in the Entity’s securities under Listing Rule 17.1.
If you wish a trading halt, you must tell us:
the reasons for the trading halt;
how long you want the trading halt to last;
the event you expect to happen that will end the trading halt;
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that you are not aware of any reason why the trading halt should not be granted; and
any other information necessary to inform the market about the trading halt, or that we ask
for.
We may require the request for a trading halt to be in writing. The trading halt cannot extend past
the commencement of normal trading on the second day after the day on which it is granted.
You can find further information about trading halts in Guidance Note 16 Trading Halts & Voluntary
Suspensions.
If you have any queries or concerns about any of the above, please contact me immediately.
Yours sincerely
[Sent electronically, without signature]
Kate Kidson
Principal Adviser
Listings Compliance (Melbourne)