6186 I fully understand your frustrations with the lack of...

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Rayda

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02/11/16

09:25

Post #: 20300141
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Originally posted by 6186mark ↑

Good idea 50c. I suggest we all do it and ALSO make a formal complaint to ASIC. This is from their site:

"Trading is not permitted under the law in any circumstances if the person trading knows unannounced, price-sensitive information. Prior to trading, directors need to consider whether the market is fully informed of all material price-sensitive information. Such a decision is often complex, and based on the particular circumstances at the time of trading. Where the decision is a difficult one, best practice is to err on the side of caution and consider not only the law but how the trading could be perceived by the market."

Now, it is my contention that GW and the Board know three things that none of us know:
(1) Dose sales and revenue for the period July 1 to October 31
(2) All corporate expenses for the same period. And hence company profitability for that period.
(3) Results of R&D (positive or negative)

Further, there is no doubt that (1) and (2), in particular, are material and price sensitive because many small shareholders, all stockbroker analysts, and all institutional holders would all be updating their forecasting models based on the latest financials.

And further, we would be making investment decisions based on our own models.

GW has this information, he has not disclosed it, and he is trading with that knowledge.

I intend to firstly write to the company and inform them of my intention to raise with ASIC. My intention is not to bring GW down (although that would be a great outcome) but to force the company into more frequent disclosure of financial information.

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6186

I fully understand your frustrations with the lack of transparency with regards a number of issues with SRX but if we follow your argument to its logical conclusion then there would be no window for CEO's to sell shares or buy for that matter.

It could be worse it could have been like Bal a little while back when both the chairman and CEO sold their entire holdings with no explanation.

Given the size of the sale it would not have been unreasonable for Gilman to have given some sort of explanation.

JMO

Regards

Rayda

SRX Price at posting: $27.63 Sentiment: Buy Disclosure: Held
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