VIC 25.0% 0.3¢ victory mines limited

Ann: Voluntary Suspension Extension, page-18

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  1. 6,805 Posts.
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    If you go back in time to about early September (an announcement dated 7th September) you will find they requested a Trading Halt apparently because they were going to make an announcement about another acquisition and a capital raising. However, within a day or so of that announcement of the TH, the ASX began its probe into arrangements between VIC and Everblu. That effectively led to the first request for a Suspension from Official Quotation on 11th September while they got their answers sorted out and responded. That was then followed on the 14th of September by the first request for an Extension of the Voluntary Suspension. Essentially they could not go back trading while the ASX was conducting its enquiry. So while the company may make the request it has little other option really as the ASX would probably not allow it to be back operating on the ASX while questions and answers were being passing between the ASX and management. VIC is not the only company with links to Everblu that is being investigated and where trading has been stopped for many weeks. (Check out MTL and HDY as two examples). So "voluntary suspension" is really a euphemism for enforced suspension while under a cloud.
 
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