What is bad about it is that the ASX is basically asking why the company did not tell shareholders about the bad news they had. The company in response is flailing around but essentially saying they knew it looked bad but they hoped it would change. Then it didn't change so they decided to tell shareholders. That is shonky. If the company gets bad news it need to tell shareholders. It should not put its head under the pillow and hope that its all a bad dream and only tell people about it when they can't put it off any longer.
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