Speculation from start to finish....always ends up being what QBL said
" it relates to a significant acquisition" BY MCL
Look back to when QBL announced its acquisition of 55% of MCL. ( 03-03-2017 )
Its required approval of shareholders for the second tranche of shares that were to be allocated to MCL
Issuing extra shares requires approval of shareholders
As required under listing rule 7.1
They may have already exceeded the 12 month limit...but failed to clarify how many new shares are required to gain a controlling interest in "the acquisition"...
DON"T think so..ITS MCL thats doing the acquisition
However its MCL that's making a significant acquisition...so how is MCL paying for the acquisition....
WILL it result in a dilution of QBL's controlling 55% stake in MCL.... ???????
As MCL is an unlisted company Rule 7.1 should not apply...So one would think or does it or is some other rule ?
MCL is 55% owned by QBL ,that makes it a significant asset of QBL so the question is...IS it essentially a subsidiary of QBL
making its actions subject to ASX listing rules....as anything MCL does has a material financial impact of the value of QBL
one thing is for sure, delays like this spike more interest than normal...the delay spikes interest in more traders...so opening day should be quite volatile...
Whether its good or bad volatility will depend on the quality of the announcement....
But there will be more eyes on QBL that day than one normally se......
QBL Price at posting:
4.9¢ Sentiment: Hold Disclosure: Held
