This stock went into suspension in Dec of 2017, and we are coming up to two years in a couple of months... As I understand it, a revised version of Guidance Note 33 Removal of Entities from the ASX Official List (GN 33) was released in May this year...
The former version of GN 33 established that ASX’s policy was to remove an entity from the Official List whose securities have been suspended from trading for a continuous period of three years.
Feedback on the consultation paper raised concerns surrounding the short time frame in which the new GN 33 would apply, particularly where entities had already been suspended for, or close to, two years.
In response, ASX advised that changes to the period of time for automatic removal following suspension (section 3.4 of GN 33) have been deferred and will take effect on Monday 3 February 2020, rather than on 1 July 2019, the date originally proposed. This change was intended to allow currently suspended entities more time to pursue a transaction that could lead to them being reinstated to trading.
Where an entity has been continuously suspended since on or before 31 January 2018 and remains suspended as at the close of trading on Friday 31 January 2020 (2 year period), the entity will be automatically removed from the Official List at the commencement of trading on Monday 3 February 2020.
Can anyone confirm my understanding above?
I just want to take my loss and move on as this has got no hope of relisting... Shit BOD, equals shit stock!!!
BPG Price at posting:
0.9¢ Sentiment: None Disclosure: Held
