I suspect that, rather than waiting for EWC to adviseASX re: funds received from PLN,ASX will have submitted a number of questions, incl. matters pertaining to resolving EEES default as well as auditors position as to EWC not being a going concern, to EWC and requesting answers by its stated deadline. EWC response will be posted on ASX and ASX will then consider whether to allow EWC to resume trade. Once EWC’s answers have, in the opinion of ASX, complied with ASX listing rules, ASX will advise the market when trading in EWC will be allowed to recommence
Given that EWC’s half yearly report to Dec 2023states, in part, that
“The Directors have considered theproceeds raised from the sale of the Sengkang Combined Cycle Power Plant in May2023, as disclosed in note 16, and are confident EWC will secure the requiredlevels of funding at the appropriate times in order for EWC (including EEES) topay its debts as and when they fall due on the basis that the Company isactively seeking to raise new capital, presently negotiating alternativearrangements with the EEES Facility lenders and that a letter of financialsupport has been received from EWI and the managing director of the Company”
EWC shouldbe able to satisfy the relevant ASX listing rules, especially given thereference to EWI and the managing director having provided a letter offinancial support to EWC.
