Hey FHC, Lot of knee-jerk here today. Panic over PoC 1 it seems....

Hey FHC, Lot of knee-jerk here today. Panic over PoC 1 it seems. I don't share it, but do understand the frustration. Funny how different people see different things. I'm very comfortable in my investment.

From ASX rule 3... Don't have time to edit, sorry, have a beer and brisket sammich waiting... Also need to go read up on all those ailments mentioned by hangas to see what I can do about them. Oh yeah, and gotta go polish my rose coloured glasses too. . ;-)

7. The requirement to disclose information “immediately” Under Listing Rule 3.1, market sensitive information must be disclosed to ASX immediately upon the entity becoming aware of the information, unless it falls within the carve-outs from disclosure in Listing Rule 3.1A (see below). The word “immediately” does not mean “instantaneously”, but rather “promptly and without delay”. Doing something “promptly and without delay” means doing it as quickly as it can be done in the circumstances (acting promptly) and not deferring, postponing or putting it off to a later time (acting without delay). A period of time will necessarily pass between when an entity first becomes obliged to give information to ASX under Listing Rule 3.1 and when it is able to give that information to ASX in the form of a market announcement. This passing of time, of itself, does not mean that there has been a “delay” in the provision of the information to ASX. Some announcements may be able to be prepared and given to ASX relatively quickly, while others may take longer to complete. The question is each case is whether the entity is going about this process as quickly as it can in the circumstances and not deferring, postponing or putting it off to a later time.

ASX recognises that how quickly an entity can give an announcement of particular information to ASX will be dictated by the circumstances confronting it at the time. Relevant factors may include:  where and when the information originated;  the forewarning (if any) the entity had of the information; ASX Listing Rules Continuous Disclosure: An Abridged Guide Page 6  the amount and complexity of the information concerned;  the need in some cases to verify the accuracy or bona fides of the information;  the need for an announcement to be carefully drawn so that it is accurate, complete and not misleading;  the need in some cases for an announcement to comply with specific legal or Listing Rule requirements, such as the requirement for an announcement that relates to mining or oil and gas activities to comply with Chapter 5 of the Listing Rules; and  the need in some cases for an announcement to be approved by the entity’s board or disclosure committee (see below). ASX will take these factors into account in assessing whether an entity has complied with its obligation to disclose information under Listing Rule 3.1 promptly and without delay. ASX will also take into account the state of the market in assessing whether an entity has complied with the spirit, intention and purpose of Listing Rule 3.1 and whether it ought to refer a possible breach of the rule to ASIC. In this regard, ASX recognises that the sensitivity of the market to information is at its highest during trading hours on licensed Australian securities markets, which is when and where most trading in ASX-listed securities takes place and when the need to issue information promptly takes on greater significance. Thus, if the obligation to disclose information under Listing Rule 3.1 is triggered during a period that licensed Australian securities markets are not trading (eg, overnight or on a weekend), it will generally be sufficient from ASX’s perspective for the entity to give the information to ASX for release to the market before trading next resumes. Conversely, if the obligation to disclose information under Listing Rule 3.1 is triggered while licensed Australian securities markets are trading, the entity will be expected to give the information to ASX as quickly as it can in the circumstances, or else to request a trading halt (see below). ASX will expect an entity to act particularly quickly if ASX asks it to make an announcement under Listing Rule 3.1B because of a sudden and significant movement in the market price or traded volumes of its securities or otherwise to correct or prevent a false market in its securities. In such cases, if the entity is not in a position to issue its announcement to the market straight away, ASX will generally expect it to request a trading halt. ASX will also expect an entity to act particularly quickly if the information to be announced is especially damaging and likely to cause a significant fall in the market price of the entity’s securities (eg, information that the board of the entity has resolved to appoint an administrator or that a lender has declared an event of default and appointed a receiver). Again, in such a case, if the entity is not in a position to issue its announcement to the market straight away, ASX will generally expect the entity to request a trading halt. Given the requirement in Listing Rule 3.1 for immediate disclosure and the significant legal and financial consequences that can follow from a breach of that rule, it is important that listed entities have in place appropriate compliance systems to ensure that information which is potentially market sensitive is promptly assessed to determine whether it requires disclosure under that rule and, if it does, that it is promptly given to ASX. Annexure C of Guidance Note 8 Continuous Disclosure: Listing Rules 3.1 – 3.1B has further guidance on the policies that a listed entity should implement to comply with its obligations under Listing Rule 3.1.

DYOR, FWIW, IMHO, HSDB, blah blah blah....