Like everything in flux (as we seem to be at the moment) intentions are guarded against failure by terms such as...'or other means' That is how I read the conditions.
Many posters have pointed to NASDAQ listing requirements and how we failed key criteria.
I initially thought that there is some disconnect between Google results of listing rules and the actual intricacies of NASDAQ float.
The "Trick"
It appears not. Even us simple posters knew it was a no go.
They knew the of listing rules and the three month ASX rule and confidently asked for permission to issue shares. Was it also a special meeting?
A bit too Cock Sure and cover their ass with 'other means.'
There is obviously an objective that Management wish to achieve. They have failed at their first attempt. It was an attempt that they had no hope of achieving.
I believe that the Special Resolutions speak to the 'other means'.
At it's very simplest, I thought that the authority request for the Special Resolutions would of included the % of shares to be repurchased.
That would put the freightners up any shorters.
Like everything in flux (as we seem to be at the moment)...
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| Open | High | Low | Value | Volume |
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| Last trade - 13.42pm 29/04/2024 (20 minute delay) ? |
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| Last updated 11.02am 29/04/2024 ? | |||||
| RLT (ASX) Chart |