Red Emperor Resources (ASX,AIM:RMP) Suspension of Trading on ASX

Red Emperor Resources NL (“Red Emperor” or the “Company”) announces that trading of the Company’s securities on the Australian Securities Exchange (“ASX”) has been suspended today as the ASX has determined that the Company does not have sufficient operations to warrant the continued quotation of its securities in accordance with ASX Listing Rule 12.1. The suspension will continue until the Company is able to demonstrate either compliance with Chapter 12 of the ASX Listing Rules or it recompiles with Chapters 1 and 2 of the ASX Listing Rules.Red Emperor Resources NL (“Red Emperor” or the “Company”) announces that trading of the Company’s securities on the Australian Securities Exchange (“ASX”) has been suspended today as the ASX has determined that the Company does not have sufficient operations to warrant the continued quotation of its securities in accordance with ASX Listing Rule 12.1. The suspension will continue until the Company is able to demonstrate either compliance with Chapter 12 of the ASX Listing Rules or it recompiles with Chapters 1 and 2 of the ASX Listing Rules.

The Company disagrees with the ASX’s position and continues to engage the ASX to seek further clarification on this ruling.

As announced in the Company’s Quarterly Report, dated 31 October 2017, the Company retains a holding in Block SC55 in the Philippines and an agreed work program is scheduled to commence once all JV equity interests are confirmed. However there have been lengthy delays in ratifying the Company’s equity interest increase from 15% to 37.5% at the Philippines Department of Energy.

READ
Micro-cap Movers and Shakers From Tosh Lines, 6th December 2019

The Company also announced that last week it signed a binding Heads of Agreement with an exploration firm to identify a number of leases in California, prospective for oil & gas, with a view to acquiring those leases.

Trading of the Company’s securities on AIM will continue at this time.




Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates.

Terms of Website Use

All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned

Tags:
Malcare WordPress Security