Bit of a grey one, person not on a trail and hoping to be on...

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30/04/24

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Post #: 73582362
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Originally posted by ThePig ↑

Sure. No problem.

Investors base their investment decision based on the information provided to them by companies. I have purchased oppies recently based on what was released to the market. Would I have invested had I been in possession of the information that the patient passed away? No I would not. Definitely not in the short term. I would want to know further details before I decide to buy or sell.

The fact that the Company 'hid' the information in the Quarterly deprived me of my right to be in possession of all relevant information.

Section 674 Corporations Act relates to Continuous Disclosure. It states; "(b) the entity has information that those provisions require the entity to notify to the market operator; and (c) the information is not generally available; and (d) a reasonable person would expect the information, if it were generally available, to have a material effect on the price or value of ED securities of the entity; the entity must notify the market operator of that information in accordance with those provisions."

Section 1042D relates to 'material affect' and states: "For the purposes of this Division, a reasonable person would be taken to expect information to have a material effect on the price or value of particular financial products if (and only if) the information would, or would be likely to, influence persons who commonly acquire financial products in deciding whether or not to acquire or dispose of the first - mentioned financial products."

Further, as I posted in the Quarterly thread there appears to be a discrepancy in the information provided to the market. So in my opinion based on what I have read in the EGM announcement compared to what is produced in today's Quarterly there may be a breach of Section 1041H Corporations Act which relates to misleading or deceptive conduct.

All based on my thoughts and opinions.

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Bit of a grey one, person not on a trail and hoping to be on next one. Wording suggests company not formally notified either, and nor should they be.

PAA Price at posting: 22.5¢ Sentiment: Buy Disclosure: Held
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