From ASX Listing Rules: 12.4 An entity must maintain a spread of security holdings in its main class of shares which, in ASX's opinion, is sufficient to ensure there is an orderly and liquid market in its securities. 12.4.1 If ASX requires the entity to obtain sufficient spread, the entity must do each of the following: (a) Obtain the required spread in 3 months after the date ASX requires it to do so (b) Tell all holders of its quoted securities in writing that if the required spread is not obtained in 3 months after the date when ASX requires the entity to obtain it, ASX may suspend quotation of the entity's securities. The entity must tell holders in writing within 10 business days after the date ASX requires it to obtain the spread. 12.4.2 ASX's requirement is not met if the spread is obtained by artificial means eg giving shares away, offering non-recourse loans, using nominee companies.
BRM Price at posting:
$2.27 Sentiment: Hold Disclosure: Held