IMHO Sage & Timis would have known exactly what the risks were with the IPO& GFE deals, given Timis's problems with London SE. They are both globe trotting entrepreneurs & dealmakers with plenty of experience in M&A & compliance issues. They have excellent legal team, including the very experienced company secretary Eloise Von K... IMO they took a punt & lost on the ASX approving it. But true to form TS has a plan B. The big worry now is Timis is our largest shareholder & if TS annoys the ASX too much we could be next.
IMHO Sage & Timis would have known exactly what the risks were...
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