When did TV2 first become aware of the information that services had launched in Brazil? In answering this question, please state the date and time TV2 first became aware.
The Launch of the services in Brazil was commenced after the market closed on 15 November 2017 and was an ongoing process. The service was progressively opened up to consumers from approximately 6.00 pm Perth time on 15 November 2017. The company was continually reviewing the service from that point on. At approximately 6.30 am Perth time on 16 November 2017 the company confirmed the launch and proceeded to announce the results.
4. If TV2 first became aware of the information that services had launched in Brazil before TV2 requested the Trading Halt, did TV2 make any announcement prior to that date which disclosed the information? If so, please provide details. If not, please explain why this information was not released to the market at an earlier time, commenting specifically on when you believe TV2 was obliged to release the information under Listing Rules 3.1 and 3.1A and what steps TV2 took to ensure that the information was released promptly and without delay.
TV2U has made numerous announcements in regard to the Company’s project in Brazil. Information on the launch of the service in Brazil on 15 November 2017 was not released to the market until the Company was satisfied that the service was up and running and was able to be accessed through the various consumer devices. Due to the 10-hour time difference between Brazil and Perth that information was not finalised until market opening time in Australia.
The results of the launch confirmed that is was spectacularly successful and as soon as the Company was satisfied that the launch was successful it announced the details to the market.
5. When did TV2 first become aware of the change in the price of its securities on Thursday, 16 November 2017?
Tv2U became aware of the change in price of its securities soon after the market opened and proceeded to make the announcement titled TV2U goes Live in Brazil.
6. Please explain why TV2 did not request a trading halt until it had received a price query from ASX. In answering this question, please comment specifically on the steps TV2 took to ensure that the information that services had launched in Brazil was released promptly and without delay.
The Company was in the process of making an announcement when the price query from the ASX was received. The information on the launch of the services in Brazil was being collated and assessed, and was then made available in the Announcement titled TV2U goes Live in Brazil.
