ST,it's common knowledge amongst strategist that there are three...

ST,

it's common knowledge amongst strategist that there are three times of the day to release announcements into the market.

Before trade
after open; and
after close

Each of them meet with compliance of lodging "on the day", however each have their own message depending on what you hope to achieve.

Releasing after open generally means there is nothing really to be said said to the market, ie its not price sensitive or it is news that is to be expected.

While this last announcement is just that - a non event - it was both weak in language and tried to pass the buck over that the delay was the auditors fault. it was overly formal when it didnt have to be.

What should have happened is a positively constructed announcement that stated that "the company were in the final stages of the audit, and that both the accounts and a market update would be out before the opening of the bell on X date." they should also have thanked shareholders for their continued patience. Instead its up to Buddy to tell us that there is going to be a market update before we open.

One release sends the message to the market that they are in control and doing everything they can, while the other doesnt.

For a company that should be trying to explain its past actions to instill confidence, provide a clearly articulated update on the future and endear its self to shareholders - timing and content of releases, no matter how trivial, counts.

IMO of course.