Does anyone know what the story is with cummins corp? They have been on a trading halt for ages.... They floated at 20 cents earlier this year and closed at 6 cents before going on a trading halt. They have been on halt for about 5 months or more....
They deal in water purification.
The prospectus seemed encouraging. A few directors left and now the graph shows no heart beat!
16 Mar 2006
Lists & official quotation commences with Chairman & 5 other directors including the founder Ian Cummins (who holds 64% of the company)
Share price: 20c shares close first day at 15c
Chairman & 1 other director resign.
Share price: 13c
Appoints 1 new director.
Share price: 10c
Newly appointed director resigns along with 2 other original directors.
Share price: 9c
Company secretary resigns.
Share price: 8c
Trading halt imposed.
Share price: 6c
Suspension from official quotation.
Another director resigns leaving founder Ian Cummins as the only director.
Company advises that suspension will continue until Aust Securities & Investments Commission (ASIC) information request is satisfied. Reinstatement is expected to be 31 May.
Company advises it is finalising response to ASIC & reinstatement expected by 30 June.
Company advises it is still finalising response to ASIC & reinstatement expected by 31 August.
Appoints 3 new directors. All 3 new directors are current employees working for the company in sales & marketing.
Company advises it is searching for new Chief Financial Officer, in the interim an external accounting firm will assist the board in its quest to clarify the company's financial position for the ASIC Response.
Company advises it is still finalising ASIC response, no information is given regarding an expected date for reinstatement.
Advises that Extraordinary General Meeting will be held on 6 Oct.
No Financial Statements or quarterly results have been released since listing.
It was suspended last year at 6 cents after it was listed in ASX for few weeks. I am not sure what the company is currently doing. However, I wish to know whether i will get my shares back or not if CMN is being relisted to ASX. Anyone have this kind of experience before? Currently I could not see the share that i m holding in this CMN in my Comsec account and I received a letter saying that they are being moved to the Sub Issuer holding or sth like that. Could anyone please tell me what is tat and what is going on actually. Thanks a lot!
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