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2.0¢ oventus medical limited

Ann: Suspension from Official Quotation, page-19

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Yakmehappy

228 Posts.

137

23/09/19

19:02

Post #: 40533174
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Originally posted by quiet_observer: ↑

Nope, thats wrong, that's not how it operates. Entities get anywhere from 2 hours to market open the next day to respond to the price query with the Sergant Schultz response (ie can continue to trade while responding if there is nothing to disclose, which the ASX will ask when they call the company and tell them a price query is coming). If there was something to disclose they could have just gone with a trading halt for up to 2 business days. But by going straight into suspension it suggests (1) that there is something very significant to disclose and they need more than 2 days to finalise, or (2) there is a problem and they've been suspended while they sort it out with ASX. Entities usually try to avoid suspension because if they are suspended for a total of 5 business days or more in a 12 month period then they can't issue cleansing notices and have to issue prospectuses when there is a share issue.

Hope for holders its #1

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Thanks for correcting me. I was just having a looking at ASX guidance notes. There appears to be a lot a flexibility for a stock to be suspended if the ASX is concerned. However, I have had plenty of experience with companies simply responding to a price query to resume trading the next day. I guess we’ll find out soon.

Yak.

OVN Price at posting: 77.0¢ Sentiment: Buy Disclosure: Held
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