The following update has been provided to me by one of the plaintiffs involved in the pending legal proceedings at the HK Labor Tribunal:
COURT ORDERS: (Unpaid Wages)
Thredit Limited x 1
Imagine Room Limited x 2
Key Ideas HK Limited x 1
COURT TRIAL: (Unpaid Wages)
Imagine Room x 1 (March)
Key Ideas HK x 1 (March)
Refer to Dec 4th Ann for your update on where PRA/THD are up to regarding the re-list. The expectation was prospectus lodgement early 2016 and an amended timetable in due course.
The number of stakeholders involved and regulatory environment challenges has been sighted as the reason for delays however there has been zero disclosure to shareholders regarding the pending legal issues above. Duty of disclosure?.. I would have thought so.. Even more so given Thredit Ltd themselves are implicated.
It's frustrating for all shareholders I'm sure but it's out of our hands atm unfortunately.
PRA Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
