Oliver's Real Food Ltd recently advised shareholders that the ASX has declined their request for reinstatement due to insufficient evidence.
However, the ASX noted recent positive trading performance, proposed debt restructure, and positive operating cash flow in two of the last three months.
The Company now has a clear pathway to reinstatement of their shares, which would require positive operating cash flow for the first half of FY23, an unmodified audit report, and an independent expert's report confirming that their working capital and financial condition is sufficient for the next 12 months.
If these requirements are not met, the Company will be removed from the official list from the commencement of trading on 27 February 2023.