As far as I am concerned the outcome can really only go in 3 different and distinct directions. However , the suggestion that CRO should be de-listed is absolutely absurd because even Companies who want to be de-listed have to go through many stages of ASX and ASIC approval. And for those who believe it should become de-listed because of ASX continuous ' displeasure ' due to unmet listing rules should also be aware that this usually cannot occur until 3 years from being first suspended.OK .....so I would then ask you ALL - How is this going to look for the ASX given this Company seems to be in compliance with ASIC and Australian Corporations Law ' Covid-19 ' changes , and at the same time is a NET Employer of Australians at a time when there are over 1 Million Australian out of work or on significantly reduced hours of work and / or supplementary benefits.So how would this look if the Media or the Opposition we're to get hold of this story, and what looks to be the clear intent from the ASX who almost purposefully ' have set about ' stymying ' this process by making it extremely difficult for this Company and perhaps others to continue their Operations of raising Capital and creating Jobs ....Jobs .....Jobs for the Economy......So knowing and being aware of ALL these points together with the realization that this will become potentially highly Political should it eventually be leak to the media .....how then would this then reflect on the ASX should this suspension go beyond ' reasonable ' limits. Not Good I would suggest. I personally would be calling on the Opposition to initiate another massive integrity inquiry into the ASX and their inconsistent or non existent application of the rules and the potential corruption which seemingly is allowed to persist in the Investment , Broking , and Share Market Trading Industries.And who is to say that there isn't this massive conflict of interest looming in the background here with the ASX actually wanting to stake its claim in some way on the B2B Industries - I mean they have ' CHESS right ? And I know this may be a stretch .....but who really knows how and why ASX makes it's seemingly ' preferential decision in favor of one Company over another...... Remembering that the ASX is predominately still owned by the exchange's ' Participating Broker ' Community....... What sort of potential conflicts of Interest then lie beneath that shroud of Mystery and ' Old Mates ' ......So I think we can all agree that this will end terribly badly for the ASX in any ' protracted ' or extended suspension. So what then happens in a shorter suspension ? Even in this situation , the longer this ' misdemeanour ' prevails , the more likely that ASX will again come off second best with the Market Taking the view that the move was both ' Purposeful ' , ' Hostile ' ,or even ' Rancorous , and will therefore respond by significantly ' Bidding Up ' the companies securities once they are reinstated.Obviously there is the THIRD direction which could be supported by the general consensus that Investor's are not prepared to give this mob a second chance - a ' once bitten twice shy ' sort of approach which would be demonstrated by offloading , or reducing their exposure so as to perhaps avoid a recurrent episode of this ' non-compliant ' devil may care attitude towards their responsibilities and their shareholders.So whilst the jury is perhaps still out on which direction , there is a definitely a ' tug of war ' going on in my mind as to which way this ultimately ends up playing out . If it goes as per Direction 1....with a long and drawn out suspension , it will be a Media and Political Field day I can assure you of that. If it goes the way of a resolution within the allowable time frames or in the nearer term , it could be seen as a real injection to Market Confidence and support with it's shares back up over 4.0 cents with reasonable ease and time. Should it go the THIRD way , it could just as well be a struggle to hold onto each PIP above 2.5 or 2.6 cents.
Either way , and contrary to what some others have suggested regarding BIG deals being made while in suspension - The Company is still bound by it's continuous disclosure requirements, and so would still have to put out relevant market announcements - Particularly as to how they may relate to the price sensitivity on it's shares , and irrespective of the current suspension.And the reality here is , that when specifically referring to the ' Year End Financials ' , there is not much difference if any to those tabled in the ' Preliminary Final Report. It's mainly all the other stuff like Chairman's comments , Managing Director's review, Director's Reports, Auditor's Report , and other Operational highlights , with most of the Accounting Standards , format , notes , and compliance having minimal to no changes whatsoever......... So I agree that it is either ' Nothing ' or it's something more ' Sinister ' In either case , I will find out , and I will take appropriate action in raising this query with the ' Right ' people.....![]()
CRO short term TA, page-352
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Mkt cap ! $38.92M |
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17 | 9649638 | 0.008 |
11 | 8321140 | 0.007 |
7 | 4483500 | 0.006 |
2 | 2300000 | 0.005 |
Price($) | Vol. | No. |
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0.011 | 8901721 | 10 |
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