In a spring cleaning move by the Australian Securities Exchange, companies which have been suspended from trading for more than three years could be automatically delisted.
The proposed cut-off date is an initiative designed to stop shareholders and businesses being “left in limbo”.
The proposed policy was revealed in a paper on Thursday and would see a tidying up of the ASX’s inactive companies.
Currently there are 100 companies on the ASX which have been suspended from trading. Of these, 70 have been suspended for more than 12 months and a small number have been suspended for up to a decade.
Hope this helps,,,,Marum
