ASX, No offence taken, however the penalties are quite severe for breaching rule 3.1.
I do not disagree with you, I am only stating the rules and regulations , governed by the ASX, however in this case one would hope the company is doing the right thing by the shareholders. See below 3:1
Compliance with Listing Rule 3.1 is critical to the integrity and efficiency of the ASX market and other markets that trade in ASX quoted securities or derivatives of those securities. Reflecting this, Parliament has given the rule statutory force in section 674 of the Corporations Act.If a listed entity breaches Listing Rule 3.1, it may also breach section 674(2). This is a both criminal offence and a financial services civil penalty provision, punishable in the former case by a fine of up to $110,000 and in the latter case by a civil penalty of up to $1,000,000. Alternatively, if ASIC has reasonable grounds to suspect a breach it may, by administrative action, issue an infringement notice imposing a penalty of up to $100,000. The entity may also be liable to pay damages to any person who suffers loss or damage as a result of the breach.An officer who is involved in such a breach may infringe section 674(2A) of the Corporations Act. This is a civil penalty provision punishable by a penalty of up to $200,000. The officer may also be liable to pay damages to anyone who suffers loss or damage as a result of the breach, although there is a due diligence defence in section 674(2B), which protects officers of a listed entity from civil penalties and civil claims for damages if they can prove that they took all steps that were reasonable in the circumstances to ensure that the entity complied with its continuous disclosure obligations and, after doing so, believed on reasonable grounds that the entity was complying with those obligations.It should also be noted that an officer or employee of a listed entity who gives, or authorises or permits the giving of, materially false or misleading information to ASX under Listing Rule 3.1 (including in response to any enquiry ASX may make of the entity under that rule) may commit a criminal offence under section 1309 of the Corporations Act.
- Forums
- ASX - By Stock
- MEM
- Ann: Follow up sales of FelixTM System
Ann: Follow up sales of FelixTM System, page-11
-
- There are more pages in this discussion • 40 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add MEM (ASX) to my watchlist
|
|||||
Last
1.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $15.21M |
Open | High | Low | Value | Volume |
1.1¢ | 1.1¢ | 1.1¢ | $2.985K | 271.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 20000 | 1.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.1¢ | 768748 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 20000 | 0.010 |
4 | 3400000 | 0.009 |
5 | 3329164 | 0.008 |
1 | 142999 | 0.007 |
8 | 2923583 | 0.006 |
Price($) | Vol. | No. |
---|---|---|
0.011 | 768748 | 3 |
0.012 | 778782 | 4 |
0.013 | 713500 | 1 |
0.014 | 960406 | 4 |
0.015 | 17000 | 1 |
Last trade - 14.37pm 22/08/2024 (20 minute delay) ? |
Featured News
MEM (ASX) Chart |
The Watchlist
SS1
SUN SILVER LIMITED
Gerard O'Donovan, Executive Director
Gerard O'Donovan
Executive Director
SPONSORED BY The Market Online