ASX Suspends Certain Companies from Trading on Non-Filing of FY 2018

An investor uses his phone as he sits in front of a board displaying stock prices at the Australian Securities Exchange (ASX) in Sydney, Australia, June 21, 2017. REUTERS/David Gray

The companies which are listed on Australian Securities Exchange or ASX needed to submit the full year results for 2018 till September 28, 2018. However, while the number of companies has performed the duties i.e. submission of the early results, there are some of the companies which have not submitted the necessary documents in the stipulated time period. The companies which have defaulted on the submission are: Austpac Resources NL (ASX: APG), Predictive Discovery Limited (ASX: PDI), Aurora Minerals Limited (ASX: ARM), Niuminco Group Limited (ASX: NIU), Cokal Limited (ASX: CKA), Netlinkz Limited (ASX: NET), Frontier Diamonds Limited (ASX: FDX), Maximus Resources Limited (ASX: MXR), Jatenergy Limited (ASX: JAT), Merlin Diamonds Limited (ASX: MED), Zyber Holdings Limited (ASX: ZYB) and VDM Group Limited (ASX: VMG).

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Suspension from Official Quotation (Source: ASX) [optin-monster-shortcode id=”wxhmli4jjedneglg1trq”]

As a consequence of this default, the shares of the above-mentioned companies have been suspended from trading on October 1, 2018. However, Predictive Discovery ltd (ASX: PDI) managed to come up and gave a reason for the default. According to the company, they are in talks with the auditors in order to solve the technical accounting issues which were outstanding. The company believes that these issues are likely to be addressed within a few days. Its last traded price was A$0.014 and the company’s market capitalization amounted to $3.31 million. As per the press release by the company, they would be in a position to submit the required documents by the end of the week. It would try to solve the concerns as early as possible.

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