Asra Minerals addresses compliance issue

Asra Minerals (ASX:ASR) has requested a trading halt on its securities due to a compliance issue. The issue stems from an oversight in the appointment of their auditor, RSM Australia Partners, which was not ratified at the 2023 Annual General Meeting. The trading halt will last until the issue is resolved or normal trading resumes on October 21, 2024. The company is seeking court orders to rectify the oversight.

Resolution and future outlook for Asra Minerals

Asra Minerals has entered a trading halt due to an administrative oversight regarding the appointment of its auditor, RSM Australia Partners. This appointment was not ratified at the 2023 Annual General Meeting, leading to non-compliance with Chapter 2M of the Corporations Act 2001. The company is seeking orders from the Supreme Court of Western Australia to validate the auditor appointment and ensure past share issues remain unaffected. Asra Minerals intends to resolve this issue swiftly, with an application to the court expected within 24 hours. The board assures that the oversight is not price sensitive and aims to resume trading by October 21, 2024. Shareholders are encouraged to seek independent advice if needed, as the company remains committed to compliance and transparency.

Executive commentary on auditor oversight

The board does not consider the oversight price sensitive but seeks to resolve it promptly to reinstate trading.