As you are aware there have been considerable delays to the planned listing date of engage:BDR Limited (EN1)
We appreciate your frustration which I assure you is shared by us, the Company and everyone else involved !!!
This has been due to the following:
1. Additional unexpected and unusual financial information requests from ASX
2. The requirement that the Company’s auditors Ernst & Young now be required to prepare the Half Year Audit Review for the Company for the period 1 January 2017 to 30 June 2017 which necessitated E&Y staff having to go back to the USA
3. Clarification of two matters, one due to the Company ultimately raising more in its IPO than originally anticipated and the second due to a put option held by the vendors of a company that engage:BDR acquired having now expired (i.e. option expired since the lodgement of the original prospectus removing a significant contingent liability).
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It is important to note that both of these issues have resulted in significant positive financial outcomes for the Company
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The Company now believes that it has satisfied these additional information requests from ASX and yesterday submitted its draft responses to ASX for their consideration.
We hope to be in a position to advise on a listing date shortly. If all goes to plan, we should be notified of acceptance and a listing date next week.
Thank you again for your support and patience.
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EN1 Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
