"
We do expect to hear from the ASX any day now, as soon as we do hear back from the ASX we will inform our shareholders, and we look forward to recommencing trading on the ASX platform."
That is the same stuff that has been pedalled around for awhile now.
In my view this statement contains nothing new and there are a lot of vague words / phrases clauses.
1. 'waiting mode'
2. 'signing-off'
3. 'that we are aware of'
4. 'sign off'
5. 'formal final approval'
6. 'any day now'
I should volunteer to re-write their communiques.
And then here are the sentences - sheesh!
"...
structured the acquisitions in accordance with the requests made of us by the ASX"
I would have thought that they would structure the acquisitions in accordance with sound business and commercial practices. Not sure what they are trying to convey here but it sounds as though they are confused as well.
"We have submitted the final detailed announcement with all the detailed information that the ASX requested from us and in the format requested, and the ASX have since been reviewing internally for final sign off."
When did this actually occur? They actually said that they had done that weeks ago. They could release a brief timeline evidencing their claims of submission etc.
"
We, unfortunately, do not control the timing of the ASX approval process and we have not received back word from the ASX yet on the formal final approval of the announcement or on the expected timing of the finalization of their review"
What the is the purpose of that sentence? It is almost incomprehensible.
Seriously, "
received back word"? What is a "
back word"?
And "
their review"? What are they "reviewing" and how long have they been conducting a "review"?
Are they reviewing the announcement or, the structure of the acquisitions? They seem to imply both?
"...
and are heavily scrutinized by the ASX to ensure that they are succinct and do not carry 'any' detail or an 'explanation' that can not yet be released without the ASX approval.
The ASX do not care one iota about the 'succinctness' of an announcement. It is plainly foolish to make that claim. The ASX are checking compliance with listing rules. Next they will tell us that the ASX is checking their grammar (by the way someone should do that).
I wonder whether ASIC are involved? Surely, this can not be just be a matter of listing rule compliance now - it has been too long.
Something has happened in the transaction(s) that is causing the ASX and or ASIC some level of concern.
"
We do expect to hear from the ASX any day now,"
No comment required really - it stands as it own example of all that has preceded this "update".
"Once the announcement is released, it will be understood why it took so long."
Well ... yes ... I ... suppose ... it ... will!
I wonder - does the ASX "
scrutinse" the Facebook updates? pfft ...
