I think people need to be realistic about timing. If ASIC issued a notice for books and records on the day of suspension (2 Aug) it would be reasonable to expect they would give one week minimum to produce. So that would take you up until 9 August minimum. Then ASIC would need time to pore over them, I’d expect at minimum a week. So on a bare minimum you’d be thinking a fortnight. Obviously it’s taken longer but it’s easy to envisage a scenario where it requires two weeks for ISX to respond to a notice and ASIC takes two weeks to review.
I’ve worked at organisations that have been on the receiving end of ASIC notices and they can be detailed, require a lot of review to ensure you provide everything responsive, lawyers frequently involved and often require weeks just to respond. Given the circumstances I’m sure everything is being expedited but there are limits.
ISX Price at posting:
$1.07 Sentiment: Hold Disclosure: Held
