@Mutley8 "Strategic with ASX consent"
That has to be the most bizarre statement I have seen on HotCopper - so are you seriously suggesting that the ASX are a willing party to WFE breeching the Corporations Act?
re: Section 674(2) of the Corporations Act gives statutory force to ASX Listing Rule 3.1, being the principle rule relating to an entity's continuous disclosure obligations. Under the Corporations Act, failure to comply with the continuous disclosure obligations can result in both criminal and civil sanctions.
re: under Chapter 4 of the listing rules, Quarterly Disclosure, section 4.7B the entity must give the ASX the completed Appendix 4C immediately the information is available, and in any event within 1 month after the end of each quarter of the financial year. As well as under the Corporations Act, if the company has not made a profit or traded during the financial year, financial reports are still required.
With all the belly aching that was going on of how unfair the ASX was treating WFE with its re-listing to now suggest "what?" they have decided to let some of their own governing rules slip to what end? Strategic, still laughing, in what possible way?
Other than it would hide prospective "Off Take partners" or "Funding partners" that WFE have little to no money left in "available" cash reserves.....
cheers
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