Environmental Clean Technologies Limited (ASX:ECT) (ECT or Company) requests an immediate trading halt in the Company’s securities pursuant to ASX Listing Rule 17.1.
The Company is in the process of seeking clarification on the status of the submission of its Research and Collaboration Agreement (RCA) with its India project partners.
The Company has provided frequent updates on the progress of the submission of the RCA to the Boards of its India project partners, NLC India Limited (NLCIL) and NMDC Limited (NMDC).
A required document to accompany the submission of the RCA is the final report following external legal review (see announcement 16 October) of the RCA, which has recently been completed.
The issue of the final report by the consultant has taken longer than anticipated, delaying the submission of the RCA for inclusion in the Board papers.
NLCIL is holding its Board meeting on 15 November 2018. The submission of the RCA for inclusion as part of the Board papers was expected to be completed by 7 November 2018.
The Company is awaiting confirmation that:
- the final report for the external legal review has been released, and;
- the final report and RCA have been accepted for inclusion on the agenda for NLCIL’s 15 November board meeting.
The Company expects to receive this confirmation prior to market open on Tuesday 13 November 2018.
We are not aware of any reason why the trading halt should not be granted, and we anticipate that the halt will be ended by an announcement by the Company.
For further information, contact:
Glenn Fozard – Chairman firstname.lastname@example.org