Ann: Court Proceedings, page-3

Unsurprisingly, the market reacted badly to the above news, sending the shares down 8.82 per cent to A$0.31 at close this afternoon (Friday 13 November 2020).

Nobody likes bad news on a Friday afternoon, which as some have said elsewhere on HC is often a down day for the ASX (illogical, as it's no different to any other weekday).

Today's significant share price decline makes it all the more urgent that LAU keeps investors small (and big, such as major holder SOL) fully informed.

It will have to closely examine legal advice, decide what the subsidiaries charged will plead and negotiate with the National Heavy Vehicle Regulator, not necessarily in that order.

That this matter involves one location near Coffs Harbour in NSW (Boambee) as well as Loganlea in Brisbane increases the complexity, and the likelihood of court delays.

I assume that any initial Local Court hearing will be a 'filing hearing'.

Unfortunately this matter will chew up management time and attention, and cause worry even if any persons allegedly involved are a lot calmer than some of us.

Just as many of us dislike uncertainty, the ASX tends not to regard it favourably.