disclosure requirements

"Note 14 page 72 "... The Group anticipates it will be in breach of covenants as of 31 Mar 14 and has obtained a waiver as of that date"

Directors have a duty to disclose all material info under continuous disclosure reporting requirements of the Corporations Act if I'm not mistaken.

This info is IMO material and should have been disclosed in a separate announcement as soon as it was known. I wonder if this was the reason why the share price dropped so suddenly towards the end of Jan 14 as some would have been possibly privy to this info.

None of the company's previous announcements alluded to this and IMO, most shareholders including myself would not have purchased any shares in RFE if we had been informed of this matter.

I am no longer a shareholder as I was stopped out at 16 cents but still amazed that the directors did not announce this sooner and only decided to add it as a note in the financials.