BRR
"And please remember, not marketing an imminent NASDAQ listing to US investors per an SEC request, is quite different from keeping the Australian and NZ markets informed with reasons for the continued delay in listing - one can inform a market while not being seen spruik to another - a distinction that appears lost on many investors."
With the utmost respect for your many informative and cogent posts, I have to disagree with this position.
1. PRR are NOT in breach of ASIC rules regarding continous disclosure. They have no news to report.
2. To issue an announcement regarding the progress of the US listing could potentially be construed by the SEC as a breach of their regulations, resulting in a disqualification or other punitive measures.
Why then would the company risk that if they are not obliged to? The board would open themselves up to enormous criticism, potentially a shareholder class action.
Speaking for myself, I prefer the board to act in the best long term interests of the company (and by extrapolation, the shareholders) rather than react to short term market impatience.
who likes 53c?, page-10
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