- Winmar Resources (WFE) has been refused an extension from the Australian Securities Exchange (ASX) regarding its de-listing
- Winmar will not be trading from next week as it is being automatically delisted from the exchange due to being a long term suspended entity
- However, with a new Board and management team, the company says it will apply to re-list as soon as possible
- Winmar says it is making significant progress towards meeting its regulatory and compliance obligations, which include financial reports
- Winmar Resources last trade on June 4, 2018, selling shares for 2.4 cents each
Winmar Resources (WFE) has been refused an extension from the Australian Securities Exchange (ASX) regarding its de-listing.
Winmar is being automatically delisted from the Australian exchange on June 8 due to being a long term suspended entity.
The ASX said it does not allow any relief to long term suspended entities under its removal policy. As such, Winmar’s extension application was rejected.
The company has a fresh Board and management team, however, that is not ready to give up on the ASX just yet.
“The Board remains motivated to re-apply for quotation of the company’s securities on the ASX as soon as possible and is continuing to progress potential opportunities to facilitate this,” the company said today.
The Board said it is making significant progress towards meeting Winmar’s outstanding regulatory and compliance obligations, which include financial reports.
It is expecting the 2019 financial accounts will be finalised and released in the coming days and the audit review for the first half of 2020 financial accounts will commence in the coming week.
Winmar Resources last trade on June 4, 2018, selling shares for 2.4 cents each.