Update on ASIC Investigations, page-63

LWP have recently applied to ASIC for an extension to hold the AGM so it appears things haven’t progressed too well with the proposed acquisition. According to the announcement, all conditions needed to be satisfied by 30 November and a months notice is required for the AGM.

While there hasn’t been a public update yet, ASIC has received a group of questions on notice regarding their investigations which includes this proposed backdoor transaction at a time when the previous directors as well as the company itself are being investigated for wrong doings.