Rubbish. The Company, by their own standards stated that they would update during January. They then left it literally to month's end before saying that they wouldn't do so. Now it's out to February 29th, so almost 11 weeks on from their 17/12 announcement. And this demonstrates credibility, assurance, control - how? The comments remain. They are MIA. And its certainly not the conduct or behaviour one would otherwise be expecting of a recent (and returning aspirant) ASX100 company to be practising.
As for suspending the stock, even if this had been possible, they've missed numerous opportunities for doing so - 17/12, 21/12, 7/1, 28/1, to name but a few. In the meantime, the SP was $1.08 (EOD) on 16/12. It closed at 89c on 17/12. yesterday, it closed at 74c and today its circa 63c.
So, from 16/12 to 27/1, the SP has dropped 34c (32%), or if through to today, then by 45c (42%). Not bad for a company where apparently everyone's on deck and no-one's MIA. A veritable model of prudent corporate behaviour.
You know, the longer that this drags out, the deeper that the OPEX, headcount, rightsizing actions will have to be, or alternatively (if management /the Board are not up to doing this), the greater the possibility of a CR being required. I've always argued against the need for a CR but not if management's not going to take action on the headcount, OPEX, business efficiency, credibility, Investor Relations', fronts, etc.
So, yes, under no obligation to provide any January update. So why then say it in the first place (just like with their investor update from last late September /October).
Expand
