Lynas continuous disclosure

Either lynas is in direct violation of listing rules because of a "going concern" basis or the directors do have a finance package.

Listing Rule 12.2 On-going requirements—Financial condition Listing Rule 12.2 states that a company’s financial condition (including operating results) must in ASX’s opinion be adequate to warrant the continued quotation of its securities and its continued listing. It is a continuing obligation that preserves the quality of listing. It seeks to ensure that a listed company has sufficient financial strength to justify its listing with the ASX. ASX’s view is that if the company is not a going concern its financial condition is inadequate to warrant quotation. Listing Rules 17.1, 17.2, and 17.3 Trading halts, Suspension of securities from quotation These listing rules deal with trading halts and suspending quotation of a company’s securities. ASX will suspend trading in securities of a company if in ASX’s opinion it is not a going concern. ASX may also suspend trading in securities of a company that has an Independent Audit Report or Review Report that contains an, “adverse” opinion or “disclaimer” of opinion in respect of its going concern status. Corporations Act 2001 Directors should be aware that section 674 of the Corporations Act 2001 provides the mechanism for the enforcement of the continuous disclosure obligations under the ASX Listing Rules: • A person “involved in a contravention” by a listed company of its continuous disclosure obligations will be in breach of section 674(2A) of the Act and will be liable to pay a civil penalty of up to $200,000. Such a person may also be liable under section 1325 of the Act to compensate shareholders who suffer loss as a result of the breach. Directors may have a defence under section 674(2B) to an allegation of breach if they prove that they took all reasonable steps in the circumstances to ensure that the company complied with its obligations under the Act.