asx response

Our Ref: C20091172
16 December 2009
Mr C Roche
Dear Mr Roche
RE: Biota Holdings Limited (BTA)

Thank you for your correspondence concerning BTA. Your observations in relation to BTA have been passed onto ASXMS Surveillance. We are currently reviewing the issues you have raised and making enquiries of various brokers involved in recent trading in BTA. If a potential breach of ASXs Operating Rules is found, further investigation will follow. Should any potential beaches of the Corporations Act be found, they may be referred to ASIC.

On 15 December 2009 BTA was issued a price query letter asking amongst other things if it was aware of any information that wasnt already released to the market that could be an explanation for the fall in its share price. The correspondence was released to the market on 15 December 2009.
There is no set rule as to when ASX will query a company regarding a price rise or a price fall. Every stock is treated on a case by case basis, depending on whether there have been any company announcements, broker research reports, media stories, etc which may explain the price move. To further understand the role of ASXs Surveillance Unit please follows the link below;
http://www.asx.com.au/supervision/participants/surveillance.htm

Thank you once again for raising your concerns with ASX.
Yours sincerely,
Richard Flynn Manager, Surveillance ASX Limited

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