"Where a listed entity is found to have not had a reasonable...

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mbatista

903 Posts.

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29/12/19

16:07

Post #: 42155140
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Originally posted by MoneyBags1348: ↑

mbat it seems that you never take a rest from these threads, even on a Sunday. Your assumption that I made up LNG saying that construction will begin by 2018 is incorrect. But to actually be more correct, what I should have said was:

The statement made by LNG’s management during their meeting with the Directors of The Port of Lake Charles on 27^th March 2017 was: “Construction on the Magnolia facility is expected to begin later this year”

Here is a little more information related to this statement for you to research and digest:

ASX Listing rule 3.1 is the primary rule concerning disclosure of market-sensitive information. It says that a listed entity must immediately tell ASX of any information of which it is aware concerning it that a reasonable person would expect to have a material effect on the price or value of its securities.

Where a listed entity is found to have not had a reasonable basis for such statements, then it will usually be held to have misled the market and be liable under section 769C of the Corporations Act.

Forward-looking statements will trigger an obligation under listing rule 3.1 when the entity knows sufficient information to reasonably indicate that a material prior statement will not eventuate as predicted.

Now please have some regard for those who prefer to have a rest on Sunday!!

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"Where a listed entity is found to have not had a reasonable basis for such statements, then it will usually be held to have misled the market and be liable under section 769C of the Corporations Act."

Any update on your ASIC complaint? Or was it found to have no basis?

LNG Price at posting: 19.0¢ Sentiment: Buy Disclosure: Held
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