Another thing that I find odd is the use of “unreasonable...

Another thing that I find odd is the use of “unreasonable prejudice” in the June 2020 annual report without giving a basic reason for using it. Especially considering they are doing an IPO.


From the annual report.

“LIKELY DEVELOPMENTS AND ANNOUNCEMENTS

Any other information on the Company’s business strategies and its prospects for future years have not been included in this report because the Directors believe it would be likely to result in

unreasonable prejudice to the Company.” End

See page 20 in link.

Quote - “Omitting information

If information has been omitted under the exemption in s299A(3), the OFR must disclose this under the terms of that provision.

To assist shareholders, entities may also consider disclosing a short, high-level summary of the type of information that has been omitted, and the reasons for the omission, where possible.

By explicitly stating that there is information of a certain category that has been omitted from the OFR, and on what basis, shareholders are better able to understand the context of the disclosures made in the OFR.

It is not expected that the summary and reasons for disclosure would be of such detail as to disclose information that would be likely to result in unreasonable prejudice.” End


https://asic.gov.au/media/1247147/rg247.pdf