Trading insolvent is a criminal offence Continous disclosure...

Trading insolvent is a criminal offence
Continous disclosure requires they report to the market if they are looking to engage administrators or have engaged administrators
Continous disclosure also requires they inform the market if they are canvassing the market for capital with the exception of a placement to a specific shareholder/s or professional investor. As soon as the deal is signed in the later example they must inform the market
If they are restructuring or working on a deal it doesn't have to be reported until signed.
The story coming out of NUH is that they are doing a "strategic review " which could mean a number of things, the accounts appear to be complete.
Regardless of outcome it is poor management that this is the way Miller has chosen to do things. Appalling.