2013 = our year!, page-191

This was posted on the CVN thread. It seems relevant to me as ESI/Monash have not followed up with their ann to the mkt
and should be compelled to IMO. Other opinions welcome:-

Tannin --"The Doctor says: "I would have thought they had a legal obligation to inform the market if there had been any substantial developments other than things progressing as indicated in their updates".

They do have that obligation. From memory, the ASIC rule-of-thumb is that progress should be within 10% of guidance, round-about. Now as I understand it, that applies particularly to bottom line numbers rather than intermediate figures such as production, but it should be relevant nevertheless. As a director, if you say nothing and provide no guidance, you can have some pretty large events take place and you are OK. (Your shareholders might not like it but legally you are OK.) However, any major deviaton from whatever guidance has been provided must be communicated to the market promptly.

For CVN, the relevance of this is that we do have clear guidance (notably via the shareholders letter, but also from other announcements) and they are REQUIRED to announce any major deviation from that. The fact that they have not done so strongly suggests that they believe they are in the ballpark."