Ann: Suspension from Official Quotation, page-20

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shwow

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03/07/23

11:33

Post #: 68585854
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Originally posted by BRProject: ↑

Not sure I understand the question but I'll have a crack at it, just trying to be helpful (before I get accused of being a know-it-all).

EUR could have chosen another halt, it's hard to imagine the ASX declining a second given the circumstances, especially since it's about financing and therefore very price sensitive. It's important to take note EUR voluntarily requested suspension. It's even more important to remember that halts and suspensions are by negotiation with ASX.. in other words, companies must obtain approval from the exchange. Halts are short because Directors are duty-bound to disclose price sensitive information as quickly as humanly possible, or otherwise gets shut down by ASX.

Suspension by its nature it's actually a bad thing. It means the company is no longer allowed to trade, hence removal of all bids. Its not about extending a halt but that EUR is no longer allowed to trade (suspended) because they weren't able to give notice of a price sensitive information in a timely manner.

It's just market participants are aware Directors use it voluntarily to buy time, and so does not necessarily mean bad thing. Its a known loophole such as to extend time of a halt like what we see here. Hence why I suspect this was done on purpose/strategically but Directors would deny it of course.

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Thanks mate, think the key word I was looking for is 'loophole'. Got a bit worried when I saw suspension this morning (ahhh fek moment)

EUR Price at posting: 10.0¢ Sentiment: Buy Disclosure: Held
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Ann: Suspension from Official Quotation, page-20

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Ann: Suspension from Official Quotation, page-20

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