AVB and any other company on the ASX has an obligation to keep their shareholders fully informed. The key word is "fully". Dammed if you do and dammed if you don't may be but that's part of their obligation. No one likes to be the giver of bad news but there's an obligation to deliver good or bad news.
You can't wait till after the fact to deliver the fact if you have reasonable knowledge of the likelihood of the outcome beforehand. (Spoken like a lawyer).
So if you know that a certain price sensitive event is likely to happen or perhaps unlikely to happen in an expected time frame then this knowledge must be conveyed to the shareholders.
You can't just "shut up shop" so to speak because this would not meet the obligation of keeping shareholders fully informed.
We all agree that the finance is a major price sensitive event. The fact that it has taken almost two years is news in itself. Great that AVB has told us that there has been a delay but this is stating the obvious. To be fully informed, the shareholders should be told all the reasons for the delay.
Yes, some will argue that there is still 6 days left in the quarter but it has taken almost two years to come to this point and a full and clear explanation of the delay should have been forthcoming way before now.
IMO, you can't just keep moving a delivery date from Q1 to Q2 to Q3 to Q4 without explanation. That's not what I understand as the meaning of "fully" informed.
AVB Price at posting:
7.2¢ Sentiment: Buy Disclosure: Held
