Unless ASIC get involved ASX is powerless. The use to which a...

Unless ASIC get involved ASX is powerless.

The use to which a listed company’s funds are put is not something which ASX can take action about, because decisions made by management about the use of a company’s capital are largely regarded as within their discretion. That discretion is limited by the legal and equitable duties that apply to company directors. These duties are enforced by ASIC.

IMO this will get relisted around time of Annual General Meeting with the appointment of 2 new directors and a more comprehensive explanation regarding AXIS loan and repayment going forward. Will be interesting how the market reacts given SP has already built in these AXIS loan arrangements for years. As long as it is business as usual and funding remains then 2019 could be the year SP starts to move north.