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Application for Removal from the Official List of the ASX and Proposed Move to AltX from the JSE Main Board. See link below. https://www.asx.com.au/asxpdf/20190125/pdf/4422qgnyj65cbw.pdf
Great news
Great news indeed. Withdraw my momentum comment of 5 hrs ago now. Great way to get those report numbers published once this is all behind us.
Excellent news , may try adding more first thing could be a busy day tommorow!
Do we think we should go up in the am,?
Depends how you interpret it. I see this as a great weight being lifted. Asx with its lack of interest killed any potential slingshot rises as investors usually follow suit on other markets. Ie, I have been in since before the double the resource announcement in the jorc and various other milestone news, and was surprised by the asx poor response which dampened things on our market. Now the coast is clear and we will take the lead. And of course there'll be nothing stopping us from releasing the npv, opex etc figures, that we were anticipating to see... I'd be optimistic ; )
Praeclarus
I do think that it’s unfortunate on Aussie investors, but necessary for the company to move forward.
I was secretly hoping for a way to be found that gets the full ss published without the company incurring asx removal costs at this time, but that clearly wasn’t possible. Onwards!
Looks good for Monday 11th March for an updated RNS with figures
Picked up a few million first thing on open , hopefully we will see more buying on the back of this news .
How long is the process of delisting from ASX and what are the costs? The fact that it's listed on the main board of the JSE is an anomaly. It's a small cap with no profit history, so AltX is the right place for a penny stock.
Numpt, the problem was not with the ASX. It was a EUZ management faux pas plainly simply and wholly. Management somehow didn't have a comprehensive knowledge of the rules, something which they are paid to have a firm understanding of. Perhaps they have lost some expertise with that knowledge in recent management turnovers, I don't know, but there are no excuses. To put the blame on the ASX rules instead of on management is unquestionably just plain and simply wrong. I hope they put their hand up to that fact one day. I'd like to see what percentage and total number of holders that they have so dismissively just cut off at the knees because of their unfortunate oversight. Nevertheless, we are where we are and good fortune to all shareholders, both the oppressed and the fortunate ones. Best wishes to management also and I hope that they can learn from recent events and grow in management skill and experience. Running on a shoestring they have done a great job, but I think they now need to identify a competent and experienced company secretary to in order prevent any such mishaps in the future. :-)
OIltap, the company remains as Australian registered. I have heard LR say so in an ahem... cough..... podcast. :-)
Now why would they want to do that? You missed the point Oiltap. From what I heard there is NO INTENTION of changing it. Not sure where or why you get such ideas. There are many factors which you haven't considered, like taxation for example. Would you waste our money registering in another country if it meant paying more tax? They deal with all of the facts and everything is done for a purpose. That's why they are paid to be managers and we are not. :-)
My question (unanswered) is how long does it take for the ASX delisting process. Anyone?
If you read the rns it tells you by what date they will be delisted.
Thanks, duh. ETA 8 March. RTFM