Red Field sold CLY the Hong Kong Project last year but were not meant to sell any of the shares the recieved for 13 months because CLY could not , for technical reasons, issue a cleansing statement.
Someone in the Red Field group didn't get the memo and sold some shares.
Now CLY have to rectify the situation and the shares will remain suspended until the situation is resolved.
"In accordance with ASX policy, Clancy's shares will remain in voluntary suspension until such time as orders are made by the Federal Court, unless otherwise advised."
Anyone know the significance, if any, of the underlined statement?
CLY Price at posting:
0.3¢ Sentiment: Buy Disclosure: Held