Not good. Looks like heads may rollThe Company was served with the proceedings following closeof trade on Friday, 22 February 2018. The proceedings bought by ASIC allegethat the Company failed to meet its continuous disclosure obligations andengaged in misleading or deceptive conduct. Claims in relation to theseallegations are also bought against Mr Macdonald and Mr Hunter, in theircapacity as directors of the Company. ASIC is seeking pecuniary penaltiesagainst the Company and each of Mr Macdonald and Mr Hunter as well as ordersdisqualifying Mr Macdonald and Mr Hunter from managing corporations for aperiod. The claims relate to alleged conduct between February and December2017.
