RE: Company disclosure...
I do agree that it would be nice to know a bit more about what is happening with the company, while it is happening, but it is also worth noting the following detail in relation to continuous disclosure requirements!!
(Thanks to
@Crumble71 on the AGY threads)
Continuous Disclosure: an Abridged Guide
1. IntroductionThis Guide is published to assist listed entities and their officers to understand and comply with their disclosure obligations under Listing Rules 3.1 and 3.1A. These rules provide:
3.1 Once an entity is or becomes aware of any information concerning it that a reasonable person would expect to have a material effect on the price or value of the entity’s securities, the entity must immediately tell ASX that information.
3.1A Listing rule 3.1 does not apply to particular information while each of the following requirements is satisfied in relation to the information:
3.1A.1 One or more of the following 5 situations applies:
It would be a breach of a law to disclose the information;
The information concerns an incomplete proposal or negotiation;The information comprises matters of supposition or is insufficiently definite to warrant disclosure;
The information is generated for the internal management purposes of the entity; or
The information is a trade secret; and
3.1A.2 The information is confidential and ASX has not formed the view that the information has ceased to be confidential;and
3.1A.3 A reasonable person would not expect the information to be disclosed.
Just thought that was very interesting and relevant to comments made about the company keeping us in the dark. Yes, some of the stuff going on may generally be considered by many to be price-sensitive, but if it is related to an incomplete negotiation, they don't necessarily need to inform the market until it is "complete".
