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Ann: Response to ASX Query Letter, page-23

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moneyinmouth

3,243 Posts.

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20/11/19

12:28

Post #: 41528907
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Originally posted by MrSiliconValley: ↑

This just confirms it.

ASX investigations are NOT into the company's operational activities like some hinted, but just one big admin issue. They were growing too fast, some accounting mishaps here and there.

By the amount of questions, you can tell AB1 were targeted pretty hard. The scope of what they had to answer, in accordance to the ASX, is pretty enormous to get right. They were obviously told by their consultants to take their time and digest all the rules before lodging a response.

My takeaway: ASX drilled into AB1 about its reporting. No serious inquiries came out of it, more just "growing to fast, made a mistake". This confirms the business remains unaffected and not the purpose of the investigation. No wonder Yat seem'd happy in that recent interview - this is pretty much a non-issue and in the meantime his staff didn't have the share price volatility in the back of their mind for the past 2 months.

I suspect we'll be trading by end of year if the further ASX inquiries are not as strenuous as the first batch.

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Yeah, also the ASX said they were just waiting for a response and that is all.

They've got the response now.

Keen to see AB1 back in action in my portfolio.

AB1 Price at posting: 18.0¢ Sentiment: Buy Disclosure: Held
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