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this should've happened to mxc when they announced the varm...

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quicksuccess

296 Posts.

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18/05/18

08:44

Post #: 33180481
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Originally posted by red-frog ↑

I'm not sure why some holders are upset about a further delay. This is becoming the norm as the ASX actually starts doing their job.

Companies need to be accountable for any announcements they put out and have to ensure that they understand the rules. Ultimately, it's for the best to have everything 100% correct before releasing an announcement.

For those who get frustrated by delays such as this, think back to 2014 when PDY announced $6b of funding for the Oakajee Port near Geraldton.

The price went into trading halt at around .017 and within a couple of hours was trading above .05, with around 200m shares changing hands before the ASX halted trading and sought more info.

By then the damage was done and many lost most of their money as the company ended up in suspension for weeks and crashed to .003.

There was no funding in the end.

Then recently ZYB was in suspension in regards to an acquisition for 5 weeks but the deal never went ahead. It was the second time the ASX had made ZYB withdraw from acquisition plans due to tightened listing rules.

It's about time the ASX scrutinised companies more closely. At least when an announcement comes out, you can trust the details and make investment decisions based on fact.

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this should've happened to mxc when they announced the varm cosmo deal

QBL Price at posting: 4.9¢ Sentiment: Buy Disclosure: Held
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