International petroleum was taken over by African petroleum. (Timis with 48%)
The ASX refused to allow this deal to go ahead on their change.
"The ASX this week said it would not allow International Petroleum or Global Iron, another company run by Mr Sage that is also planning to acquire assets from Timis, to remain listed if they went ahead with the transactions."
Very interesting to see how the ASX will view this. The "pending clarification" comment on the T'H may explain this.
By the by. International Petroleum was international goldfields (Sage, Eastman and Flegg at the time) Who struck a deal with Ol Pete's NKP to sell 15% of 3 farms for $60m with out disclosing ongoing court cases by the local communities.
RRS Price at posting:
5.7¢ Sentiment: None Disclosure: Not Held