vafooli, I respectfully disagree. I am frustrated too and would...

vafooli, I respectfully disagree. I am frustrated too and would dearly like to see an announcement that the review is concluded. However, the company have said they will remain disciplined in not commenting on speculation about the ASIC review or any other spurious claims. The last comment I read from the company was 30 Sept stating the ASIC review was ongoing (just 15 days ago).

Yes frustrating but surely no news is good news applies. If there is something serious and definite is being unravelled in the background then continuous disclosure would mean the company is compelled to inform the market. Yes there is a possibility we are in a sensitive stage where a serious problem is not definite but could present itself. If that is true they cannot comment either until the facts are proven. S&G cannot speculate on how ASIC might interpret a situation.

On the plus side, keep in mind we have one of the big four global accounting firms (Ernst & Young) rifling through our drawers. They would certainly not want to be associated with an improper accounting practice. Yet they have advised on the SGS acquisition and they have audited the UK books.

I have to say I am less than impressed with ASIC response to emails posted earlier. Not the finest bit of explanatory writing I have read and to suggest they don't comment so not to impact the share price is irresponsible, I believe. ASIC would have to be ignorant beyond all reason not to appreciate the instigators of their review are not profiting from their actions.

What can the company say now that would appease? They are in no position to say when ASIC will wrap up its review and they cannot and should not say ASIC might charge us with overstating profits. Sure they could send out an announcement today but all it could say is the ASIC review is ongoing. Their hands are tied I'm afraid.

We'll just have to be patient and use the situation to buy more if risk profile and cash situation allows.