The final accounts are now 5 days late and we can only speculate...

The final accounts are now 5 days late and we can only speculate why.

Following a recent Federal Court decision, directors need to be very careful when voting in favour of a resolution to approve the annual financial accounts.

It is better to be late than approve incorrect accounts even if that means suspension. Directors could find themselves in breach of s 297 of the Act if the financial statements and notes in the Financial Report did not give a true and fair view of the financial position of the entity.

At the very least I would expect PPN to release an interim announcement as to when we might expect the final accounts but after 8 years as a DPL/PPN shareholder I have got used to disappointment.