Having regard to the capital raising announced by NEA on 23 November 2016, why shouldn’t the statement in the Announcement quoted in the preceding paragraph be regarded as misleading?
As there was, at the time of the Announcement, no certainty with respect to whether NEA would undertake a capital raising, the statement in the Announcement quoted in Question 8 was not misleading when made as it accurately reflected the facts at the time (ie that NEA was continuing to evaluate funding options). To have disclosed more would have risked misleading the market given the state of discussions regarding the funding options (as to which see the response to Question 3). The conclusion of the evaluation and the determination to proceed with a capital raising occurred after market close on Tuesday, 22 November 2016.
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The above is a cracker but the whole letter is a ripping good yarn......
on Tues, the Board approves a cap raise that is so uncertain (don't know the nature of, amount, pricing etc) on Mon. Cough cough...
I wonder who the third party that contacted NEA was.
I wonder who leaked the cap raise info
The response to the Q "who drafted the (earlier) announcement" was "Minter Ellison". I thought it might have been Pinocchio........
I wonder if that is the end of the matter. I hope so and probably - ASX/ASIC are toothless.
NEA Price at posting:
74.0¢ Sentiment: Buy Disclosure: Held
