It can't be insider trading, its not listed. BUT public...

It can't be insider trading, its not listed. BUT public companies do have reporting obligations. extract from ASIC

" A disclosing entity that is not foreign incorporated or formed outside Australia must prepare both:

• annual financial reports
• half-yearly financial reports.

Disclosing entities that must prepare a financial report may also have to prepare a sustainability report. For more information, see Who must prepare a sustainability report?

Annual reports

Unless the entity is not a disclosing entity when lodgement is due (see ASIC Corporations (Disclosing Entities) Instrument 2016/190), annual reports must be:

• prepared in accordance with Chapter 2M of the Corporations Act
• audited
• lodged with ASIC within three months of the financial year end
• sent to members by the earlier of four months after the financial year end or 21 days before the next AGM (three months if a registered scheme)."

a public unlisted company fails to lodge required documents (e.g., financial reports, annual statements) or fails to call an Annual General Meeting (AGM), there can be significant penalties and regulatory consequences under the Corporations Act 2001 (Cth) and enforced by ASIC (Australian Securities and Investments Commission).

Failure to Lodge Documents (e.g., Financial Reports)

Legal Requirement:

A public company must lodge:

• Annual financial reports

• Directors’ report

• Auditor’s report

• Annual statement
  with ASIC within 4 months after the end of the financial year.

Penalties:

• Late Fees (Administrative):

  • $89 (within one month late)

  • $371 (over one month late)

• Civil Penalties:
  ASIC may initiate civil proceedings for persistent or serious breaches.

• Criminal Penalties (for serious failures):

  • Directors can face fines and even imprisonment if the failure is reckless or dishonest (s180–184 of the Act).

Failure to Call an AGM

Legal Requirement:

Under s250N of the Corporations Act, public companies must:

• Hold an AGM at least once each calendar year

• Hold it within 5 months after the end of the financial year

Penalties:

• ASIC Enforcement: ASIC can issue:

  • Direction to hold AGM

  • Infringement notice or court action

• Criminal Offence:

  • Failing to comply can lead to prosecution, with a fine of up to 60 penalty units (~$18,780 as of 2025)