I'm with
@Protagonist ...I see today's announcements as pre-cursors to the final steps to get out of suspension, so this is good news indeed! ya, saying that termination of JV = good news is weird, but we already know about this for ages, and already got this news in the quarterly, so I see today's announcement as formally satisfying ASX 's compliance department.
The steps/announcements that I'm expecting are:
1) Blue Aqua termination (as there was a formal complaint raised on this one) - done
2) Satisfy any other ASX's queries and questions regarding disclosures - done with the Retraction Announcement
Call me over sensitive, but don't you think what ASX did here is over the top?....I personally see nothing wrong with using the words 'Food Division' and 'Healthcare Division' to logically segregate the operations. Don't we see miners for example use the words 'prospects' and 'projects' in similar sense.
I can understand that ASX has been doing this so called due diligence to protect shareholders, but I cannot see picking things like "why you used the word 'Food Division'...please explain SCU" and then the responses and further questions on that, lawyers and ASX committees/layers of approvals to ratify these etc.... wasting time like this while in suspension is in the best interests of the shareholders? This is what
@Bruce72 has been calling for many weeks/months to be fair to him. IMO, some of these things could've been dealt with even after the reinstatement. Sorry, rant over, the ASX can do whatever it wants and perfectly time to let us out at the start of a war
FYI...I've spotted this new image in SCU's website uploaded a day or two ago, likely linked to the the company structure (12.5) questions.
View attachment 41245013) ASX's Reinstatement to Official Quotation announcement
4) Material JV announcement - Rosen said that they'll sign this soon after the AGM, so may be they are waiting for the compliance hurdles to clear first so that they can time the release of the MJV on the day of reinstatement?
5) If they want to do the cap raise pre the reinstatement, then the CR details
6) Half-yearly reports, most likely unaudited by Mon and then use the ASX provided extension to submit the audited ones within a month, going per the usual trend
I reckon if all the compliance stuff is done, SCU team probably prefers to hold off #4 (and #3 as a result) until early next week considering what's happening in the markets atm. I'd assume it'd be super tough to raise capital in spec world at the moment, that too for a company that has been suspended for months.
Let's wait and see...fingers crossed, we are out of the suspension soon!
All IMO, please DYOR peeps
(20min delay)