BP8 (ASX) Ann: Suspension from Quotation

Originally posted by Protagonist ↑

There's been a lot of discussion on the forum about whether the current suspension is due to an imminent announcement about a previously announced proposed JV (i.e., a correction or an update) or alternatively, a new proposed JV (i.e., something that hasn't already been disclosed in some form)

I actually think a lot of the confusion is due to the use of ambiguous wording in suspension announcements, i.e., the following sentence is sourced from the first suspension on 29 September, but was repeated verbatim on 29 Oct, 30 Nov, 10 Dec and 24 Dec:

This vague description could be interpreted either way - e.g., relating to a previous JV announcement, or alternatively, as involving something totally new.

But then I re-read the update on the 1 Nov Quarterly Report and the wording is slightly different, i.e.:

To my ear, the use of the word 'of' (rather than 'relating to') sounds as though the Company does propose to announce something new. I don't see how anyone could possibly interpret this particular sentence as referring to an old, previously-announced JV.

So I'm doing a pivot on this question, and am inclined to think the Company has something new in the works.

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The way I interpreted the wording/language, I never had any doubt that all this hullabaloo is about a new JV, until I read your interpretation. Agree that the language could've been clearer by using "new" in the wording.

I'm still 99% sure (can't say 100% with this mob) that this is a new JV because 1) the company's TH was initiated by the company (rather than the ASX) and we traded for a number of days after your complaint to the ASX reg. Blue Aqua rather than an immediate halt, and 2) if it's related to Blue Aqua related clarification I reckon the wording would be something in the lines of "Response to ASX aware query or ASX continuous disclosure query".

I might be totally wrong here, but I think Blue Aqua investigation definitely became part of the re-compliance exercise and contributed to the extensions, but I reckon it's neither the cause for TH nor the main reason for the prolonged extensions. Even though the share price appreciated well on Blue Aqua news, it retreated quickly and this venture wasn't making any substantial revenue to the company either. So, worst case even if the company admits that it missed disclosing that this JV was shelved, I'd highly doubt that ASX would take legal/serious action regarding this other than a slap on the wrist and force a new disclosure statement, considering the materiality of the JV....would've been a different story if the same happened with Lantene for example. I'm sure some here might disagree with me, but that's my opinion seeing countless JV's in micro and nano caps disappearing without companies facing the exit door.

On a seperate topic, did any one see this page on the website in the past? Looks half cooked..not sure if it's in the making or on the way to be scrapped.

https://scu.com.sg/elementor-1609/

There is some hidden text (white on white) mind you that shows up when you highlight

Can't remember seeing this new VISSCS trademark - Vertically Integrated Smart Seaweed Cultivation System...could be new or a shelved piece.

All IMO, please DYOR!

Hope you all are enjoying the downtime with friends and family!