Ann: Notification and Rectification of Breach of ASX LR 10.11, page-18

First 18 Last

Share
Profile

Follow
bocasubi

1,719 Posts.

260

31/05/24

23:43

Post #: 74113623
Share

Originally posted by Shortblack: ↑

The role of a company secretary is to not only manage the operations of the board, but their number one job is to ensure the compliance of the company with all relevant regulatory requirements - both with ASIC and ASX. This is their most important, main function.

When such a breach as this occurs, the ASX will demand 3 things.

1. Immediately rectify the breach. The entity can either hold a SH meeting to seek approval for the transaction; or cancel the transaction.
The board could have easily added a resolution to an AGM agenda for this and called the AGM. Instead they chose to cancel the transaction.

2. Publish a notification of the breach.

3. Advise ASX on what steps the board are taking to ensure such a breach does not occur again. We have only seen their notification to the market (not what they have submitted to the ASX) where they just give an assurance that it won't happen again - just trust us - while in the same notice they've told obvious lies. They say they've been transparent with shareholders in their reporting, but didn't bother to explain in their reporting why they didn't bother holding the EGM that they had advised they would have to do.

The ASX is looking at this now, 7 months after the event.

The company has spent 7 months, and are still continuing on to refuse to hold a shareholder meeting. They refuse to come face to face with shareholders to give explanations, be subjected to questions and scrutiny, and to be accountable.
What are they so worried about ?

Whether there is only bad news or good news, a public company MUST hold meetings with its shareholders.

Regardless of what you think, reputable, well run and successful businesses do not operate like this.

I hear the howls of "We Don't Care". LMAO it reminds me of something right now - MAGA !
Maybe you guys could get some caps printed up.

Expand

You're very dramatic.

AKP Price at posting: $6.20 Sentiment: None Disclosure: Held
4 Upvote

1 Great analysis

Reply

Top Stories

LRV

Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

SS1

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

LU7

Lithium Universe (ASX:LU7) board visits Quebec to engage key stakeholders

Microcap Wrap: 5 explorers with news out today

Week 26 Wrap: Cerberus of inflation barks – rents, electricity & fuel – and world watches two elders bicker

Wealth Within weighs in on shock 4% inflation read – and stocks that could survive the gloom

RCE

Recce's R327 found effective against E.coli during clinical trial

CMX

ChemX Materials kicks off first stage works at WA high purity alumina pilot

AVA

Ava Risk Group expands US presence with A$0.7M Substation Deal

SVL

Silver Mines models five new calderas close to 396Moz Bowdens deposit

There are more pages in this discussion • 23 more messages in this thread...

First 18 Last

Add AKP (ASX) to my watchlist

(20min delay)
Last $6.20		Change 0.000(0.00%)		Mkt cap ! $181.1M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

Ann: Notification and Rectification of Breach of ASX LR 10.11, page-18

Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

Lithium Universe (ASX:LU7) board visits Quebec to engage key stakeholders

Microcap Wrap: 5 explorers with news out today

Week 26 Wrap: Cerberus of inflation barks – rents, electricity & fuel – and world watches two elders bicker

Wealth Within weighs in on shock 4% inflation read – and stocks that could survive the gloom

Recce's R327 found effective against E.coli during clinical trial

ChemX Materials kicks off first stage works at WA high purity alumina pilot

Ava Risk Group expands US presence with A$0.7M Substation Deal

Silver Mines models five new calderas close to 396Moz Bowdens deposit

Featured News

Featured News

Ann: Notification and Rectification of Breach of ASX LR 10.11, page-18

Top Stories

Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

Lithium Universe (ASX:LU7) board visits Quebec to engage key stakeholders

Microcap Wrap: 5 explorers with news out today

Week 26 Wrap: Cerberus of inflation barks – rents, electricity & fuel – and world watches two elders bicker

Wealth Within weighs in on shock 4% inflation read – and stocks that could survive the gloom

Recce's R327 found effective against E.coli during clinical trial

ChemX Materials kicks off first stage works at WA high purity alumina pilot

Ava Risk Group expands US presence with A$0.7M Substation Deal

Silver Mines models five new calderas close to 396Moz Bowdens deposit

Featured News

Featured News