Q & A only re March Quarterly, page-95

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07/06/18

16:23

Post #: 33570526
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Originally posted by Neil1959 ↑

ANSWERS FROM QBL MANAGEMENT

Hi Guys,

Over the past few weeks, I have noticed a few posters have questioned or been concerned about the apparent lack of details in the Trading Halt/Suspension notices. I put that question to management today to clear a few things up and get some answers for you.

Sholom Feldman replied:

Q: Why have QBL's announcements, during the Trading Halt period, been so short on detail?

A: During a Trading Halt period, and especially extended periods of voluntary suspension, the ASX requires that no material information be placed in any of the 'Request for Extensions' notices that has not been approved by the ASX for release. Notices are sent back to be rewritten if they do not meet the strict reporting requirements of the ASX Listing Rules.

In this instance, the material information regarding the transactions were still being considered by the ASX for approval, and therefore no material information could be released until final approval is received.

QBL and its legal team have been working very closely with the ASX and have been diligent to stick to the Rules when posting its update notices.

Expand

Neil, maybe you could ask why they didn't decide on a de-listing in the first instance rather than continual announcements regarding trading halt extensions, extended voluntary extensions.

A de-listing would then stop further requirement of announcements and speculation about a lifting of halts and suspensions until they actually had an announcement to make, and we'd just have to suck it up and wait?

QBL Price at posting: 4.9¢ Sentiment: None Disclosure: Held
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