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theqwertman

698 Posts.

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11/05/16

16:39

Post #: 17738426
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Originally posted by Shady Merv ↑

Thanks for that. It sent me searching.

This is from Eleuthera Group's website - EG says they are back door listing specialists.

'The ASX imposes certain rules over the timeframe in which the shares provided to vendors as part of the consideration for the acquisition of their business can be traded. These rules are designed to protect shareholders from vendors that see backdoor listings and other forms of takeovers as a way to quickly exit from their business.
Escrowed shares on ASX may not be traded for a certain period of time, typically up to 24 months after the company has been vended in. After the 24 month period the shares become can be fully traded as per non-escrowed shares.
There are some exceptions to the rule which relate to profitability of the acquired business which may result in the ASX imposing no restrictions, meaning the shares are not escrowed and may be fully traded. Businesses need to demonstrate a profitable history of a certain level, however we always recommend that vendors expect their shares to be escrowed for up to 24 months as the ASX will make the ultimate determination.'

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This may interest you! http://hotcopper.com.au/threads/ann...erests.2713771/?post_id=17143509#.VzLTOYR94qM

VRI Price at posting: 7.2¢ Sentiment: None Disclosure: Not Held
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Last 15.0¢		Change 0.000(0.00%)		Mkt cap ! $80.64M

Open	High	Low	Value	Volume
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No.	Vol.	Price($)
4	610454	15.0¢

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