Can confirm about 4 week rule. Once the deal has been done...

First 188 Last

Share
Profile

Follow
backwardsturtle

155 Posts.

20

07/03/17

19:29

Post #: 23166164
Share

Originally posted by sudsta ↑

All, i think there is more to be said about the 7.1 rule that Hamish inferred.
I'm going to put my money on this rule needing to be passed which would be post a shareholder meeting.
Also, speaking to a mate who is very familiar with ASX rules and he seemed to think that this would have to be treated almost as a new listing as stock has been suspended now for more than 3 months.
With of all the above taken into consideration, i wouldn't expect GMC to be coming back for at least another 4 weeks MINIMUM i would say IMO.

The only other scenario is relisting without any approval of shareholder meetings to issue more capital as there is no need for it (Sophisticated investor has decided not to progress with project). In this instance, relisting would still need to go through the same general hoops. However, it is likely that this will drag out as GMC would want to do everything they could before telling market the duck is dead.

Whichever way i think about it, it's going to be a while before this chicken comes home to roost. Which for me personally, i'm going to put a 6 month time frame on as i've held this long - may as well not pay tax and hold for 12 months!

Expand

Can confirm about 4 week rule.

Once the deal has been done (assuming it does), it will take 4 weeks for us to relist, but at least in the meantime we will know the company will continue as a going concern.

GMC Price at posting: 4.2¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

INA

Imugene kicks off Australian trial for blood cancer treatment

HotCopper Highlights: Your most watched and most discussed stocks this week

Week 45 Wrap: Combat sports usher in Trump 2.0 – or is it male insecurity?; RBA boring; Propane suggests China alive

Trump is President Again: What Does This Mean for Crypto?

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

MLS

Metro Mining inks bauxite offtake contracts into 2026 with Chinese m

Trump Victory Sends Bitcoin Surging Above $75K – Is $100K Next?

MLG

Flynn Gold reaches milestone exploration target for Golden Ridge

UBI

Universal Biosensors flat despite fresh deal with US medical product distributor

There are more pages in this discussion • 63 more messages in this thread...

First 188 Last

Add GMC (ASX) to my watchlist

Can confirm about 4 week rule. Once the deal has been done...

Top Stories

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Imugene kicks off Australian trial for blood cancer treatment

HotCopper Highlights: Your most watched and most discussed stocks this week

Week 45 Wrap: Combat sports usher in Trump 2.0 – or is it male insecurity?; RBA boring; Propane suggests China alive

Trump is President Again: What Does This Mean for Crypto?

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

Metro Mining inks bauxite offtake contracts into 2026 with Chinese m

Trump Victory Sends Bitcoin Surging Above $75K – Is $100K Next?

Flynn Gold reaches milestone exploration target for Golden Ridge

Universal Biosensors flat despite fresh deal with US medical product distributor