As to when we should relist, let's not rush this. The market needs to be fully informed and it would make little difference to current shareholders as to whether trading commenced now or in three to six months.
The Company was effectively recapitalised by May, payment of creditors occurred in June, and the Deed of Company Arrangement was completed in August, so the stock was initially (and reasonably) expected to resume trading in September.
Then, all of a sudden, the new Board felt the need to conduct a further operational review, which is what postponed the deadline to December 15th.
If it now turns out that the Company is still not in a position to resume trading on the ASX, then I will want a detailed explanation from Management as to what the holdup is.
The potential problem I have here is not the resumption of trading per se, as I am not necessarily looking to sell any shares, but the reason why the Company is not in compliance with the ASX listing rules.
I would have thought that three months would be more than enough to conduct an operational review, with the Company already fully recapitalised, returned to its directors, and back in production mode, so I am very curious to see what is going to be announced to the market by the end of this week.
KRM Price at posting:
10.0¢ Sentiment: Hold Disclosure: Held
