ARC Funds Ltd Suspended from ASX Quotation
Key points
- ARC Funds Ltd suspended from ASX quotation
- Insufficient directors to comply with Corporations Act
- Suspension to continue until compliance with Listing Rules
Full summary
ARC Funds Ltd (ASX: ARC) has been suspended from quotation on the Australian Securities Exchange (ASX) with immediate effect. The suspension has been implemented under Listing Rule 17.3.1 after the company confirmed it currently does not have sufficient directors to comply with section 201A(2) of the Corporations Act 2001 (Cth). The suspension will continue until ASX is satisfied that ARC is in compliance with the ASX Listing Rules, including Listing Rule 12.5, and that it is otherwise appropriate for ARC's securities to be reinstated to quotation. ASX Compliance has issued the market announcement regarding the suspension.
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