It states (an excerpt, go to the link to read in full):
Coinciding with an 81.3% spike in its share price to 2.9c, the ASX has moved to suspend QRxPharma from official quotation.
The reason: QRX needs to appoint at least one more director to comply with s201A(2) of the Corporations Act.
At present the company has two directors – Chairman Bruce Hancox and Dr Richard Treagus.
On the market today shares opened at 1.7c and peaked at 2.9c before closing at 2.8c.
Turnover totalled a modest 3.68m units in 35 trades.
The price spike aroused the interest of the ASX. In normal circumstances the ASX would send the company a letter of explanation.
However it seems the ASX noticed for the first time that the company now has just two directors after last year’s mass resignations – hence the belated move to suspend quotation.
What’s behind today’s market action? Much may transpire next week.
Not my opinion/outside of my knowledge. Just thought it was interesting. D.
QRX Price at posting:
2.8¢ Sentiment: None Disclosure: Not Held
