Ive got nothing more to add Albert. This is the extract from the letter Rcman posted from the company. All the best. DYOR
Posted by Rcman on the Atlas Iron thread
Quote:
I" got a response from last week regarding those reports.
Dear *
Thank you for your email. As you point out, it is indeed a very busy time for us. That being said, we appreciate your feedback and I have forwarded your comments to Management.
We understand from shareholder correspondence received that there has been some confusion relating to the removal of broker reports from our website. Broker reports are not prepared or verified by the company. This is often why shareholders are interested in them. Previously, we displayed broker reports on our website behind click-through disclaimers explaining that we did not prepare or verify the reports, and do not take responsibility for the content of the report.
We have stopped providing broker reports on our webpages for two reasons:
- In March 2018, ASX increased its focus on companies providing broker reports via their webpages. ASX is taking the view that companies are endorsing the content of the reports by publishing them. ASX is asking individual companies to confirm the reasonable basis for various statements in the reports (eg reasonable basis for broker forecasts of company earnings).
- ASIC has strict regulations about the kind of information we provide to our shareholders during the scheme period. ASIC regulates the type of independent expert that we can engage and the nature of the valuation that they must carry out. Atlas will need to seek court approval for the contents of the scheme booklet before we send the booklet to our shareholders. ASIC is concerned to ensure that any other information we provide to shareholders during the scheme period is consistent with the contents of the scheme booklet"
