bastjose..rules are quite simple ..It is the RULES ie a legal requirement that management must report anything that could materially affect the value of the shares..however management can circumvent this to a certain extent by claiming that if the information is released it could be detrimental to a contractual agreement ie perhaps say a secret agreement with government security agency that the Government wishes to remain secret say to protect the general safety of the public..In such circumstances details need not be disclosed.
In short continuous reporting under "normal circumstances" is a legal requirement...this can be done in a forum or in a trade journal,through the press or some other means by which the shareholders can be informed..for example a company website would also suffice and would probably be a good source of historic information flows to inform established and potentially new investors...It does not have to be reported through the ASX although many companies by custom and usage will use the ASX for prime releases ie releases where there is no doubt of its major significance in affecting value and is clearly price sensitive...a major contract or a shareholder that has become a significant shareholder.
I believe Management are doing a very good job and I would expect that management will issue some indication after the end of June ..perhaps from unaudited figures ...but they have to be very careful as Not to INTENTIONALLY Mislead Investors...it's a very narrow path they tread.
As you are no doubt aware our CEO is a lawyer by training and would be well versed in this tricky area and to date I believe Steve has been excellent ,fair and unbiased in all his communications with investors.Yes in my humble opinion he is doing a good job on all fronts.
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bastjose..rules are quite simple ..It is the RULES ie a legal...
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