walking the group CFO only augurs one thing, and its not good news Im afraid.
Question is, is the issue with client funds /treasury (which are meant to be safeguarded) or in finance (company funds)
If it's the former, and I understand that EML has already dipped its fingers into the Client Funds cookie jar before and been slapped by regulators, then there is a real problem - with the regulator. That's the last thing EML needs right now, as more regulatory issues will put pressure on the regulator to impose more conditions or even terminate their license to operate.
If its finance, then the error must be large enough to cause more than a ripple in reporting and likely cash position or revenues or both.
In both cases, not good for the SP
EML Price at posting:
67.5¢ Sentiment: Sell Disclosure: Not Held
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