Company Update, page-3

Hi BankVault
I agree that there's a lot going on at TAP, on several fronts, but I don't think any reporting is currently due from TAP for the following reasons:
* re recent large trading volumes and announcement of RISCO increase but no word about the counterparty - changes in such holdings are a matter for the buyer or seller to report if either of them is above a certain level (I think the number is still 5%), and are not TAP's obligation. TAP is simply the subject of the announcement but is not involved in any reporting obligations of the buyer or seller;
* if the seller did not hold over 5% then they are not obliged to report sales to the ASX. Risco, as buyer, has been reporting after they went over 5%. When they were less than 5% they did not report their accumulation;
* re financing, I think TAP said they were expecting this to be resolved by end October. Those matters are rarely completed early, as there is a lot of argy bargy involved, so there may not be an announcement until the week after next;
* re legal disputes, the Supreme Court threw out the statutory demand that had been made on TAP by Mr Yenbamroong and his company, so TAP won that. There has obviously been no appeal (the demand was nonsensical rubbish that was always going to get set aside), so that's the end of that.
* Tap's claim for payment of (net) money owed to it (after adjusting for an extra reserves payment that it owes) recently was referred by TAP to an arbitrator in Singapore and I think TAP said this will take 18 months or so, therefore I don't expect to hear much of value on that for a long time, while the wheels of justice grind slowly ahead;
* the strategic review outcome concluded some weeks ago with that "business as usual"announcement that you allude to, so I don't expect to hear more about that.

In summary: I'm waiting for the September quarterly (due by 31 October), and the financing update (also due around the same time, or perhaps shortly after that), which may entail a new facility but I guess could also amount to a renegotiation of the existing facility.

It's good that things (for the moment at least) are on a more business as usual basis after the disruptive action taken by Mr Chatchai Yenbamroong and his company. Once that action is stopped, all TAP shareholders will see an improvement in the share price, including Mr Yenbamroong for his share. In the meantime, he remains the unanimous choice for the Own Goal of the Year Award for seriously damaging his own TAP investment among the disruption.