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50.5¢ leo lithium limited

News: LLL Ganfeng Lithium's Unit To Buy Up To 5% Stake In Mali Lithium, page-100

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dazaliam

6,037 Posts.

1976

19/01/24

00:02

Post #: 71954344
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Originally posted by ADC91 ↑

I was of a similar view re the limited announcements to date, but this issue specifically is a bridge too far.

Suspension from quotation DOES NOT relieve an entity from its continuous disclosure obligations (see Listing Rule 18.6 and ASX Guidance Note 8).

Assuming this is an additional sale, the transaction docs for a $65 million stake would have dealt with timing of market disclosure. Unless GF went off-piste, management should have known this announcement was coming.

If the HKEX announcement does relate to a further and new sale of 5% as interpreted above, it really is unacceptable that LLL's SHers are first learning of this from translated announcements on a foreign exchange.

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I'm gonna give them the benefit of doubt and guess there are lots of questions being asked before any announcement can be made. Ofcourse I could be wrong and they just cant be arsed with shareholders for some reason.

LLL Price at posting: 50.5¢ Sentiment: Buy Disclosure: Held
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