It should be noted that the Listing Rules are not law, as such, and ASX cannot fine or impose any other criminal or civil penalties on a listed entity for breaching the Listing Rules. If a listed entity refuses to comply with its obligations under the Listing Rules, ASX’s ultimate sanction is to suspend trading in its securities or, in an extreme case, to terminate its listing. This is not a sanction that ASX exercises lightly, since it can have a significant impact on investors, by taking away their ability to buy or sell securities in the entity on the ASX market. Usually the threat of suspension or termination will be enough to get a listed entity to co-operate with ASX. However, if a listed entity refuses to co-operate, aside from suspension or termination, ASX’s only remedy will be to take legal action against the entity to obtain a court order requiring it to comply with its obligations under the Listing Rules.
CMY Price at posting:
0.5¢ Sentiment: Sell Disclosure: Not Held
