They did state the reason and they can. The announcement...

They did state the reason and they can.
The announcement breached listing rule 17.3 and until they are satisfied with the discourse with the company it will remain in suspension.
In the pirate analogy the pirate is Stu and his crew are effectively us shareholders. Stu has a few boats and he is out for treasure. ASIC and the ASX are the seas in which the pirate applies his trade - the weather is another factor as well. No pirate can navigate upwind in a gale with all sails set let alone tack with the same full sails set and no ballast. There are rules of seamanship to get to your destination in shortest time with the least harm to crew or cargo. At some time the pirate boss has to concede to the crews concerns or there will be mutiny.
In this scenario the pirate is trying to build an armada at the expense of his crews and without getting them all onside first. The rules of the sea maybe going to sink one of his ships as it attempts a knock out strike on a target.
Who cares, as long as the pirate and the rest of the ships get the message before the one in difficulty founders.

Maybe the pirate needs to have the qualities of an admiral to run a bigger squadron in the larger ASIC/ASX seas rather that the NSX and unlisted smaller seas that he has been used to.






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