I was just re-reading all of the listing rules, and I noticed...

I was just re-reading all of the listing rules, and I noticed they deleted 17.13.

Previously I thought if you were suspended for 2 years you could de-list. That is true, but only if a few other things happen like 1) not saying you have a plan to relist 2) not paying ASX fees, 3) not filing financial reports etc etc.

Point 20 in this PDF says they could theoretically be suspended for many years, and all they have to do is say: "A long-term suspended entity will often submit year after year that it is actively working on one or more potential transactions that will, subject to security holder approval and compliance with ASX's requirements, result in the reinstatement of its securities to trading".

long-term-suspended-entities-consultation-paper.pdf

I am of the persuasion that the single biggest problem to re-listing is to "raise significant working capital as required", and that amount may be up to $2million, as we have seen from other suspended ASX companies which just went through reinstatement recently.


So the reason I posted the previous post on this thread was to highlight the fact they plan to release a notice of meeting which is intended to be combined with MEC's next AGM? Soo.. potentially the reason for not releasing estimates of when the company will be reinstated is possibly because the next AGM might be January 2022?