GreenBox Group defers ASX listing Mar 23, 2011, 00:03 by GreenBox Melbourne, 16 March 2011
Smart Energy start-up GreenBox Group has postponed its re-instatement on the ASX due to unfavourable financial market conditions.
The Australian stock exchange-listed company, which has been suspended from trading pending a restructuring, had planned to re-instate its stock this week.
GreenBox Group said in a statement that it had deferred its planned re-instatement until further notice.
Chairman Peter Carre said that the Board of the Company felt the decision to defer re-listing was prudent given the recent serious international events and the related market volatility.
?We have determined that re-instating the stock in the current market environment would not serve the interests of either existing or new shareholders,? Mr Carre said. ?As a result of this decision, we intend to return all the proceeds of our recent Rights issue and Public Offering to the investors from whom we had received applications. We thank those investors for their interest and support and we hope that they will continue to follow our progress as we focus on executing our business plans while remaining suspended from listing.?
?We are still of the belief that listing on the ASX will be advantageous for the Company at some time in the future and we intend to proceed when we believe the time is right.?
