I think it is because today's announcement doesn't clarify the outcome of the investigation, or what issue the investigation was in relation to. Also why is the CEO using a small shareholder protection law to maintain employment? I understand that anything litigious causes problems in disclosing everything, but the market hates uncertainty. Also the market possibly fears that recent disclosures have been unreliable.
https://www.franklaw.com.au/knowledgeresources/how-the-law-protects-minority-shareholders
Will be interesting to see if the SP bounces back quickly or not.
Ann: Update in relation to the Company's CEO, page-5
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6.0¢ |
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Mkt cap ! $286.9M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 508474 | 5.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
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| AMA (ASX) Chart |