Response from ASX, page-4

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01/08/19

22:28

Post #: 39820798
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Originally posted by SteelnStone ↑

For what it is worth this is the response from ASX in regards to GFS suspension

Gasfields Limited(‘GFS’: Your Report of MisconductASX refers to your online reportof 19 July 2019raising concerns about the continued suspension from trading of the securities of GFS

.As you know, GFS requested that its securities be placed in voluntary suspension on 7 March 2018 pending the announcement of corporate activities relating to GFS’ divestments in Botswana. GFS’ securities have remained suspended since that date because GFS has failed to demonstrate compliance with rule 12.1 of the ASX Listing Rules.Listing Rule 12.1 states that ‘The level of an entity’s operations must, in ASX’s opinion, be sufficient to warrant the continued quotation of the entity’s securities and its continued listing’. The securities of GFS will remain in suspension until it can either demonstrate compliance with Listing Rule 12.1 to ASX’s satisfaction, or until GFS is removed from the official list of ASX.

We further note that GFS announced, most recently on 29 July 2019 that it is undertaking a transaction which will require recompliance with Chapters 1 and 2 of the ASX Listing Rules. A link to the announcement can be found here
https://www.asx.com.au/asxpdf/20190510/pdf/4450hj865jdjbq.pdf

On 10 May 2019 GFS announced what ASX’s requirements regarding reinstatement were. A link to the announcement can be found here:
https://www.asx.com.au/asxpdf/20190729/pdf/446z3y9httfh24.pdf

We hope this letter has helped clarify the situation.

Yours sincerely
Jessica Coupe
Adviser, Listings Compliance (Perth)

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After re reading those ANNs I am intrigued in regards to advice re listing rules 11.1.. proposed change in nature or scale of activities, what could he have in mind any ideas?

GFS Price at posting: 0.2¢ Sentiment: None Disclosure: Held
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Response from ASX, page-4

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