ASX notice on long term suspended entities

ASX Limited (ASX: $ASX) has issued a market announcement on 10 July 2024 regarding the suspension of certain entities for failing to lodge periodic reports. The announcement outlines the potential removal of these entities from the official list if they do not meet the deadlines for lodging outstanding periodic reports and executing plans for trading in their securities to resume, to ASX's satisfaction.

ASX's policy and recommendations for long term suspended entities

ASX recommends that long term suspended entities implement a system of periodic disclosures to provide regular updates on their status and plans for trading in their securities to resume. The removal policy for long term suspended entities is explained in ASX Listing Rules Guidance Note 33 Removal of Entities from the ASX Official List. ASX may grant a short extension to the deadline date in limited circumstances, as outlined in the guidance note. Reinstatement of securities to quotation is not granted automatically on application, and ASX must be satisfied that the reasons for the ongoing suspension have been addressed and that the entity complies with the Listing Rules at the point of reinstatement.

ASX's notice summary and outlook

ASX's market announcement on long term suspended entities highlights the potential removal of entities from the official list if they fail to meet the deadlines for lodging outstanding periodic reports and executing plans for trading in their securities to resume. The announcement also emphasizes the importance of regular disclosures and compliance with Listing Rules for reinstatement of securities to quotation. Entities are reminded to engage with their Listings Adviser about their plans to seek reinstatement, and the dates in the notice are subject to change without notice.