Pretty clear that ASX / ASIC is probing them and Merlin taking their time. Could be in relation to numerous matters but my guess is either
- Unacceptable circumstances in relation to the associations between directors and shareholders of Merlin in connection with the issue of convertible notes and options. Similar to 2016 review by ASIC
- Investigation into AXIS loan arrangement
- Composition of the board
Should help to protect shareholders from a free for all in the hands of the Gutnick family.
The fact that both ASX and Merlin have not provided further clarity to shareholders as to why suspension remains is very poor on both parties.
MED Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
