Famous last words! Clearly I am wrong and the market is right?...

Famous last words! Clearly I am wrong and the market is right? What a terrible day to be a NXL holder...

In my own view by its continuing silence, the board is still reiterating to us that that they expect Pro forma EBITDA of $64.6-66.6mm (unchanged from 21 April). Those metrics are completely irreconcilable with the current prices. Today's media reports of insider trading do not justify the current sell off. Such reports are of an individual matter (not a company matter). For that conduct, there are criminal and civil penalties which are personal in nature.

However, I was not excited about the suspected contraventions of sections 296, 344 and 1308 of the Corporations Act in relationto the financial statements of Nuix. That is indeed a company matter and, if proven, makes it liable to civil penalty. I hope that such suspicions are confined only to the conduct of Mr Doyle, which if covered up from the Board, may make such penalties only nominal. Indeed, the announcement was not price sensitive.