I thank @cortinaboy for his/her contribution to the ongoing discussion & debate re PET.
In his/her latest post @cortinaboy clarifies the distinction between an ASX announcement (often referred to as a "release") and the upcoming Webinar PET presentation/discussion or "review". I wholeheartedly agree with that distinction! Naturally,that is part of my point!
I emphasis that a Webinar is neither an alternative to nor a substitute for PET's commitment to an ASX "release" of "unaudited first half results" that "will not be subject to a disclaimer of opinion or qualified opinion" and that the market will have such information by "late August (2022)" With reference to one of the ASX additional requirements of PET to provide "shareholders ... an update to the past fraud and mismanagement ... including full disclosure of any known ongoing investigations", PET has said "The company will prepare and release this update (re fraud/mismanagement/ongoing investigations) in conjunction with the release of first half results ... " (emphasis mine). Both the ASX requirement & PET's response clearly suggest that there exists information (hitherto not yet disclosed) that the market may find to be "new".
The aforementioned undertakings were made by PET nearly eight (8) weeks ago in its "Clear roadmap .. .." ASX announcement on 11 July 2022. In that announcement PET also stated it intended to "ensur(e) shareholders have all relevant information to hand prior to PET shares being relisted for trading".
If the promised combined/concurrent announcement is made before the Webinar (ie in sufficient time for 'digesting' & preparation of relevant questions for that Webinar) then all may be 'well-and-good'. Yet I note, excluding today, there are only two (2) trading days remaining before the scheduled Webinar. If the promised announcement is made later today then all shareholders will have the weekend to consider its content, check/cross-reference with other available information, etc, etc. However, if no announcement is made today (Friday) nor before this coming Wednesday's Webinar then all will not be 'well-and-good', at least not IMHO. I reiterate, a Webinar presentation/discussion is not a substitute/alternative to an ASX announcement!
I genuinely hope @cortinaboy's confidence is rewarded with the announcement of financial results (s)he so confidently asserts will proceed the Webinar. Yet - there is more than financial results that we await ... ..
I'm sure others, like myself, noticed the absence of the word "alleged" in PET's 11/07/22 announcement in reference to "past fraud and mismanagement issues.". We are entitled to anticipate a disclosure of "all relevant information" regarding same in a combined announcement "in conjunction with the release of first half results".
Over many years I've become convinced that it is impossible to be confident something has been 'fixed' if we don't know how it first 'broke'. To identify any/all failure/fraudulent mechanism/s is critical in general 'trouble-shooting', particularly in the arena of forensics, IMHO. The market needs reassurance that what has led to this point is not merely in the past, but that it is genuinely fixed !!
(20min delay)