After digging a bit, I found information about reasons the ASX denied the AOQ listing. One of the former AOQ directors Frank Timis had trouble with Regal on the TSX and a company called Regal.
In Frank's NSX undertaking:
In May 2002 the Toronto Stock Exchange ("TSX") advised me that TSX had determined that I was unsuitable to act as a director, officer or major controlling shareholder of a TSX listed issuer due to my failure to disclose my previous heroin convictions on a personal information statement provided to TSX. In November 2007, TSX again determined that I was unsuitable to act as a director, officer or major or controlling shareholder of a TSX listted issuer on the basis of both this failure to disclose and in relation to concerns which the TSX had in connection with Regal
SMH Article
Regal gained notoriety in London financial circles after it published misleading announcements about a Greek oil well in early 2004 while Timis was chief executive.
The Alternative Investment Market said that ''on 11 separate occasions, Regal failed to take reasonable care to ensure that its announcements were not misleading, false or deceptive, and did not omit material information''.
Regal's share price had surged to 500 pence on hopes of a huge oil find, making it one of the biggest companies on the AIM, but the company failed to tell investors that crucial wells were uncommercial. When the truth emerged, Regal's market value tumbled 80 per cent, and the company's stock yesterday fetched 74.75 pence. http://www.smh.com.au/business/midas-touch-or-a-bit-too-much-20100304-plws.html
Further Questions:
1. Is Frank Timis still connected with AOQ?
2. Why did the NSX allow AOQ's listing when other exchanges refused?
AOQ Price at posting:
0.1¢ Sentiment: None Disclosure: Not Held
