Ann: Suspension from Official Quotation, page-79

It’s anyone’s guess at the moment @Rumdogx

The rules quoted in the suspension seem to be around:

1. Backdoor Listing (Soarlabs gaining ASX listed status by acquiring 49% of BPPL – Subsidiary of BPG).
2. Significant change in Business Activities (essentially becoming a crypto exchange company, when previously a distribution company) – without Shareholder Approval.

(thanks to @Neil1959 for providing the information on this)

As it’s anyone’s guess – here’s mine:
Best Case – 6 to 7 weeks
Worst Case – 12 weeks +

Why/My guess of what will happen:
As individuals, the next thing we’ll hear from BPG (letter in the post) will be a notice of an Extraordinary General Meeting, where a resolution/resolutions will be presented allowing Shareholders to vote on the Change in Business Activities and/or Change in Business Structure. Typically, you’d need to give 4 weeks’ notice before holding such a vote. Therefore give them 1 week (this week) to organise/get letters out, 4 weeks to collect proxy votes, then 1 week to announce results and remove trading suspension.

Add a few additional weeks at the start/end for ASX to confirm compliance with the rules, and you’d get my worst-case estimate.

Further to this, BPG are probably focused on resolving differences with Soarlabs as the priority – they were given 21 days to comply with their contractual obligations. IMO, if BPG fail to resolve this, and worst case scenario here is the Soarlabs / BPG contract is terminated, then, in theory, the suspension may be removed in 4 weeks (as BPG would return to their original activities and not require any ‘vote’ per the above). But, IMO, this would be a disaster for BPG and Soarlabs, and neither party could afford to terminate the contract this far in: The loss of timing to market would far outweigh any perceived negatives of continuing with the existing Soarlabs/BPG partnership, hence I’ve dismissed this scenario, albeit a possibility.

All of the above is a complete guess, speculation, etc,
Please do not take this for anything more than just a complete guess what is/will happne - I’m sure there is more that we don’t know going on behind closed doors.
All IMO and please DYOR!!

Cheers
MSN