In the second announcement about suspension we can see that MHL did not, as required by ASX rules, tell ASX how long it expects the suspension to last.
So in granting a suspension, ASX is not enforcing its own rules. That's a cause for worry, I think.
No ifs or buts. A company requesting a suspension MUST tell ASX: "How long it expects the suspension to last."
It can't be the case that officers of ASX don't know Arthur from Martha. So what discretion do they have to ignore their own rules? Anyone know?
As an aside, I note that the original request for a trading halt was "Dear Nicholas". Now it is more formal as "Dear Sirs".
Finally, before I stop banging on, I'm curious to know why the ASX's announcement of a suspension is stamped 6:52 Perth time, whereas MHL's request for a suspension is stamped later - 8:22 Perth time. How can this be so?
MHL Price at posting:
0.3¢ Sentiment: None Disclosure: Held