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Not a massive fine, feels more like a slap on the wrist or a...

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14/09/22

16:13

Post #: 63698464
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Originally posted by camban: ↑

Good to have this finally put to rest. Singleton is long gone now, replaced by Paddy Gregg. Settlement here is much better for us shareholders imo than the parties dragging this out further in court.

I’m sure there will have been a contingency amount set aside somewhere in the accounts for the anticipated cost of proceedings, so hopefully we’ll get an update at the November meeting from the CFO on the impact - but at $650K its a pretty inconsequential amount. As a shareholder my key concern is that this sort of thing never occurs again, and so I’ll take Rothwell’s assurance here that the disclosure processes have been significantly tightened since 2016 when this is alleged to have occurred.

The summary of the civil claim by ASIC can be found here, if anyone needs a refresher:

https://asic.gov.au/about-asic/news-centre/find-a-media-release/2021-releases/21-128mr-asic-commences-civil-proceedings-against-shipbuilder-austal-limited-for-continuous-disclosure-breach/

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Not a massive fine, feels more like a slap on the wrist or a reminder of their obligations.

You never want a court case hanging over you head as a ShareHolder.

ASB Price at posting: $2.56 Sentiment: Buy Disclosure: Held
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Last $3.16		Change 0.075(2.44%)		Mkt cap ! $1.130B

Open	High	Low	Value	Volume
$3.10	$3.17	$3.10	$3.791M	1.195M

Buyers (Bids)

No.	Vol.	Price($)
6	6839	$3.15

Sellers (Offers)

Price($)	Vol.	No.
$3.16	3091	15

View Market Depth

No.	Vol.	Price($)
6	6839	3.150
13	29532	3.140
12	22497	3.130
10	9887	3.120
8	11433	3.110

Price($)	Vol.	No.
3.160	2042	11
3.170	22346	15
3.180	34276	15
3.190	27823	14
3.200	77078	17

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