Ann: Suspension from Official Quotation - Annual Listing Fees, page-7

I was cleaning out mysock drawer and came across some NSE paperwork. I had forgotten about these sothought I do some research. My first stop was HC. Didn’t look promising butbetter see want’s going on . So here arethe results

From the QuarterlyActivities Report For the period ended 30 June 2021

CORPORATE

The Company has beensuspended from trading by the Australian Securities Exchange (ASX) since 14October 2019. New Standard aims to be relisted as soon as practical. Atpresent it is not possible to advise shareholders what date that will occur.

At the end of thequarter, the Company had 888,748,864 ordinary fully paid shares on issue and$64,000 in cash and bank deposits. All directors’ fees remain suspended.

Next announcement failed to pay LISTINGFEES

The following entitieshave failed to pay to ASX Limited the annual listing fees for the year ending30 June 2022, and each entity’s securities are already suspended fromquotation.

· New Standard Energy Limited NSE

Under Listing Rule17.15, any entity that has not paid its annual listing fees as required byListing Rule 16.5 by 5.00 pm AEST on Friday, 27 August 2021 will be removedfrom the Official List with effect from the close of trading on Friday, 27August 2021.

Issued by James GerratySenior Manager, Listings Compliance (Melbourne)

My research shows that

Listed companies are required to pay anannual listing fee which shall be calculated by reference to the nominal valueof the securities which are or are to be listed on the Exchange. This feeis payable in advance in one instalment

ASX LISTING RULES

Guidance Note 15A

Reissued 1/7/21

Sets out a table of thefees payable by a company and is based on the value of quoted securities

	Value of quoted securities	Fee
1	Up to $3,000,000	$14,141
2	$3,000,001 up to $10,000,000	$14,141 + 0.18687215% on excess over $3m

The current value ofquoted securities [number of shares on issue x share price] for NSE is $3,550,000.So, the listing fee payable is

$14,141 + 0.18687215%of $550,000=$14,141 + $1027.79 =$15,168.79

There is a footnotethat states in the case of an entity whose securities have been continuously suspendedfrom quotation for a period of 6 months or more as at the calculation date forannual listing fees (31 May) the annual listing fee is $25,000.

This applies to NSE soliable to pay $25,000

So we are in thispredicament because NSE can’t pay $25,000

IMHO the honourablething to do is for the BOD to call it quits and NSE be delisted

As others have postedwe would then be able to claim a capital gain tax loss and hopefully offset iton capital tax gains elsewhere

AIMHO & DYOR

GLTAH