But if this is the case then surely they are not applying their own rules (ASX) the questions they ask usually take the form of;
Is the Company aware of any information concerning it that has not been announced which, if known, could be an explanation for recent trading in the securities of the Company?
Please note that as recent trading in the Companys securities could indicate that information has ceased to be confidential, the Company is unable to rely on the exceptions to listing rule 3.1 contained in listing rule 3.1A when answering this question.
And rule 3.1 states;
Listing rule 3.1 Listing rule 3.1 requires an entity to give ASX immediately any information concerning it that a reasonable person would expect to have a material effect on the price or value of the entitys securities. The exceptions to this requirement are set out in listing rule 3.1A.
In responding to this letter you should consult listing rule 3.1 and Guidance Note 8 Continuous Disclosure: listing rule 3.1.
If the information requested by this letter is information required to be given to ASX under listing rule 3.1 your obligation is to disclose the information immediately.
Your responsibility under listing rule 3.1 is not confined to, or necessarily satisfied by, answering the questions set out in this letter.
So surely the ASX should be asking the question whether the SP is diving or increasing, you only have to look at the speculation that takes place on HC to understand the interest of shareholders/investors and again surely if this was applied to SP losses as well it may go some way to steady the market when there is a P & D or unfounded rumours are afoot.
Look how many times over the last 18 months huge wild swing occur and speculative increases are rewarded and rumour mongering is punished, great for the day traders but not so much for anyone else!!! (IMHO).
