ASX delists 28 companies

Twenty-eight companies have been delisted from the Australian Securities Exchange, as new national listing rules took effect today.

The new policies are targeting companies which remain suspended from trading for an unacceptably long time and fall behind on key reporting dates.

Nearly a third of the delisted companies, announced today, are based in Western Australia; they include Grandbrige Limited, Ephriam Resources, Haranga Resources, Quest Investments, Tiger Resources and Zeta Petroleum.

North Perth-based Granbridge said it plans to list on the National Stock Exchange of Australia (NSX).

The company manages the Advent Energy investment, an unlisted exploration company based in Perth which, through its subsidiary Asset Energy, holds an 85 per cent interest in the Petroleum Exploration Permit 11 (PEP11) in the offshore Sydney basin.

Bounty Oil and Gas holds the remaining 15 per cent.

Grandbridge said Asset Energy and Bounty would proceed with the drilling of PEP11.

The 28 companies delisted from the ASX also include ATC Alloys, ACN 059 457 279 formerly Migme, AnaeCo, Bisan Limited, BKM Management, Byte Power Group, Crowdspark, CuDeco, Henry Morgan Limited, iBosses Corporation Limited, Lantern Hotel Group Limited, Murchison Holdings Limited, Northern Mining, Onterran, Quest Investments Limited, Shenua International Limited, Shine Metals Limited, Star Group, Success Global Media Limited, Sumatra Copper & Gold, Target Energy, Tillegrah Limited and WPG Resources.