The change that occurred. 7.10 Ramping announcementsASX is concerned that listed entities are making market announcements with a view to “ramping up” the price of their securities. Whenever ASX detects what it suspects to be a ramping announcement, it will give careful consideration to suspending the entity’s securities from trading and issuing a query letter to the entity asking the entity:if it marked the announcement as market sensitive when it was lodged on MAP, to identify what information in the announcement the entity considered was market sensitive and why;if it marked the announcement as not being market sensitive when it was lodged on MAP, to explain its purpose in lodging the announcement on MAP, given its evident view that the information was not market sensitive and therefore not required to be disclosed under Listing Rule 3.1; andif the announcement includes a revenue projection or other forward-looking statement, to identify the reasonable grounds on which that statement was made and any material assumptions or qualifications underpinning the statement.If the announcement relates to a contract, ASX may ask the entity to provide a copy of the contract to ASX (not for release to the market) so that ASX can verify that the entity has complied with its disclosure obligations under the Listing Rules in relation to the contract. In an appropriate case, ASX may also require the entity to publish a corrective announcement confirming that the information in the ramping announcement was not material, or was incomplete or misleading, and that investors should not make investment decisions based on the announcement---
HT8 Price at posting:
11.8¢ Sentiment: Buy Disclosure: Held
