Eastern, migme miss ASX payment

Eastern Goldfields and migme are among a number of companies to have missed paying their annual ASX listing fees, risking removal from the register.

ASX-listed companies had until today to pay their fees for the 2018 financial year.

If payment isn’t made before close of business on Monday, the companies still owing fees will be removed from official quotation.

For Michael Fotios’s Eastern, it is the latest in a series of late payments to contractors, after most recently having avoided wind-up action by the Supreme Court of Western Australia by paying an overdue $383,000 to Genalysis Laboratory Services.

Prior to that, Mr Fotios avoided a looming protest by 80 contractors and suppliers representing Kalgoorlie-based Hogan Construction at Diggers & Dealers earlier this month, after Eastern paid what it had owed the contractors at the 11^th hour.

The company is still subject to court action by GR Engineering Services over alleged outstanding payments for work at the gold miner’s Davyhurst operation, with Eastern considering a counter-claim.

Other notable companies to have missed the ASX payment deadline include troubled digital media company migme and construction and property development company Diploma Group.

Diploma fell into liquidation in May, while migme is seeking alternative options to restructure after plans to sell its underlying business to US-based investment group Solaris Power Cells fell through earlier this month.