Why are we not trading?
This email sent minutes ago ... happy to call it an Open Email. Maybe every single shareholder could send it
[email protected]To: Mgmt of Samson Oil & Gas
RE: ASX Suspension
Please advise as to when the VOLUNTARY suspension for which SSN applied for on over 1 ago (16th April, 2018) .The reason given to the ASX was:
"The voluntary suspension is necessary for the Company to make an announcement to the market regarding a funding proposal"That suspension was of course extended multiple times.Given that the ASX will normally end a voluntary suspension once the entity makes the announcement about the event it said would result in lifting the suspension without the entity (i.e. SSN) needing to take any action, one can only conclude that the ASX is not satisfied.
I am also not satisfied. Not even a teenie, tiny bit. Your ASX release of 11th April, 2019 was mightily lacking in detail (not at all like the required SEC filing). When the capital structure of a company changes so significantly, it is customary to supply a proforma balance sheet. Given the last HY report filing one might question what that would look like after this refinancing and restructuring.
Is there a valid business reason for not informing your owners as to the current status of the company and why we are not trading on the ASX.
Regards,
(XXXX)
Shareholder
