Vinyl Group Moves to Rectify Historic ASX Option Disclosure Lapses

Jaxsta Limited ( (AU:VNL) ) has provided an announcement.

Vinyl Group Ltd has disclosed that historical administrative errors led to certain unquoted option issues being incorrectly notified to the ASX on Appendix 3B forms instead of the required Appendix 3G, which in turn impeded timely cancellation of some options and resulted in breaches of ASX Listing Rules relating to convertible securities and employee incentive schemes. The company is now lodging the correct Appendix 3G notifications to regularise approximately 101.1 million unquoted options currently on issue, emphasises that all options have nevertheless been accurately reflected in its annual and periodic reports, and highlights the appointment of specialist governance firm cdPlus Corporate Services as company secretary as evidence that its strengthened corporate governance framework is functioning adequately and should prevent similar compliance lapses in future.

The most recent analyst rating on (AU:VNL) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on Jaxsta Limited stock, see the AU:VNL Stock Forecast page.

More about Jaxsta Limited

Vinyl Group Ltd is a diversified, technology-enabled music company whose operations span publishing and digital platforms that connect culture with commerce. Its platforms division includes Vinyl.com, a major e-commerce site for over 60,000 vinyl titles; Vampr, a social-professional network and talent marketplace serving 1.6 million creators in more than 190 countries; and Serenade, a collectibles platform supporting more than 200 global artists. The publishing arm, Vinyl Media, produces premium cultural content and live experiences via brands such as Concrete Playground, Mediaweek and Tone Deaf, and licenses prominent mastheads including Rolling Stone, Refinery29 and Variety in the Australian market.

Average Trading Volume: 248,717

Technical Sentiment Signal: Sell

Current Market Cap: A$111.2M

For a thorough assessment of VNL stock, go to TipRanks’ Stock Analysis page.