Can't speak on behalf of Pustayo but I can make my own comments regarding disclosure by company boards.
Probably time to get familiar with Company board obligations regarding continuous disclosure before the AGM happens.
" A listed company has an obligation to continuously disclose information which may have an effect on its market price or value. Continuous disclosure is based on the principle that all investors should have equal and timely access to information about a company. Timely disclosure of information helps to protect the
investor and the reputation of the market."
Taken from:
https://aicd.companydirectors.com.a...ontinuous-disclosure-requirements_a4_web.ashx
As investors we need to be made aware of any information the company has that may have an effect the SP .. up or down .. in a timely manner. Good news or not so good news or even no news, the information needs to be passed on to the investors.
The operative sentence is:
"Timely disclosure of information helps to protect the investor and the reputation of the market."
Go to the link and open it ..it's a brief guideline for listed company directors and the look at the penalties that apply for breaches.
There has been a royal commission going on in the financial services sector for some time now and the investment adviser industry. Tough new rules are about to be applied to the industry in general and the fall out will change the dynamics the way directors of public companies and their boards act within disclosure rules and the rules will get much tighter early next year.
The public has copped enough crap from incompetence and greed from companies that thought they were previously immune from prosecution. The politicians facing the elections next year are clambering over themselves to be the champions of the public investors to make sure they enact legislation that will protect investors from financial disaster by applying heavy penalties to non conforming public company culprits. The new penalties will involve jail time and or Huge fines for serious offenders.
You know what .. about bloody time!
People who have real "Skin " in an investment that is run by people with "No Skin" in their product sold, by way of capital raises, to investors, deserve all they get if breach of continuous disclosure triggers investor financial losses.
The AGM could get very interesting indeed.
What long term shareholder wealth creation has been happened since December 2017? Do the board deserve their non performance based pay packets? How much money have they created for the long term shareholders over the last year? Every product has an expiry date, including boards.
Let's see if we get any word from the Company regarding the Scandium marketing exercise overseas... wherever that occurred! disclosure needed , good or bad, right now!
6.3 cent close today .. what a joke! Wasn't happy yesterday, now I am getting really p!ssed off.
HR
Bring on the AGM.
