Ann: Update on Substantial Shareholder Transaction, page-39

Meanwhile Gino was likely planning on raising capital at 53c or above very shortly and now he has to 'knock up' a prospectus first and this following is taken directly from the Australian Government Treasury website:


Section 52: Dealing in Securities

Under the Corporations Law, issuing a prospectus that omits material information or which contains a material statement that is false or misleading is a serious offence carrying a penalty of a $20,000 fine or 5 years imprisonment or both

https://treasury.gov.au/sites/default/files/2020-01/sectn52.pdf

Thanks to Robert Sills for resigning from the Board without a replacement organised thereby, I believe, contributing to the calling of a suspension there is now this need for a prospectus to consider by the Board

And there will be costs involved in writing a prospectus