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ARTICLE · 31 AUGUST 2017

Avoid ASX suspension until re-compliance by announcing backdoor listing transaction

Pointon Partners
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This recent change of ASX policy prescribes new minimum disclosure requirements to be included with the announcement.

AustraliaFinance and Banking
Michael Bishop
Michael Bishop
Jess Tomlinson
Jess Tomlinson
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Avoid suspension until re-compliance by announcing backdoor listing transaction

In May 2016, the Australian Stock Exchange (ASX) changed its policy on backdoor listings so that an entity's securities will be suspended immediately from the announcement of a backdoor listing transaction.

However, the ASX has now relaxed this policy change by allowing entities to avoid suspension until re-compliance if they make an announcement of a backdoor listing transaction. This change came into effect on 19 December 2016 and prescribes new minimum disclosure requirements for the announcement.

What are the requirements?

An entity's securities will be allowed to resume trading under the new minimum disclosure requirements if:

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