OIL 7.27% 25.5¢ optiscan imaging limited

speeding ticket

  1. bbm
    2,264 Posts.
    Optiscan caught going over the speed limit.....CMQ must have a radar detector.


    HOMEX -Melbourne


    We refer to your price query letter dated 11 June 2003 and advise as

    1. On 22 May 2003, the company announced that it had achieved a key
    milestone with the successful exhibit of the flexible confocal
    endomicroscope developed with Pentax. This achievement will assist
    The company to secure the remaining third payment of $6 million due
    from Pentax under the terms of the joint venture agreement. Although
    this third payment has not been finalised, the financial implications
    of an anticipated successful outcome have previously been reported to
    the market, most recently in April 2003 (see point 3 below). The
    company is therefore of the view that there is no unannounced
    information available to the company that could be an explanation for
    recent trading in securities of the company.

    2. Not applicable.

    3. The company has previously reported that the result for the
    current year will be impacted by the timing of the anticipated
    receipt of a further payment of $6 million under the agreement with
    Pentax. If this amount is realized and brought to account in
    2002/2003, the loss for the year will be in the order of $1M,
    representing a breakeven result (inclusive of the Pentax receipt) and
    approximately $1M in restructuring costs, announced in April 2003. If
    the Pentax receipt is not brought to account in 2002/2003, the net
    loss will be in the order of $7 million.

    4. The company has no other explanation for the price change and
    increase in volume in its securities.

    5. The company confirms that it is in compliance with the listing
    rules and in particular, listing rule 3.1.

    B R Andrew

    Phone (61 3) 9538 9333
    Fax (61 3) 9562 7742
    Website: www.optiscan.com


    We have noted a change in the price of the Company's securities from
    a close of $0.32 on 5 June 2003 to a high of $0.50 at the time of
    writing today. We have also noted an increase in the volume of
    trading in the securities over this period.

    In light of the price change and increase in volume, please respond
    to each of the following questions.

    1. Is the Company aware of any information concerning it that has
    not been announced which, if known, could be an explanation for
    recent trading in the securities of the Company?

    2. If the answer to question 1 is yes, can an announcement be made
    immediately? If not, why not and when is it expected that an
    announcement will be made?

    Please note, if the answer to question 1 is yes and an announcement
    cannot be made immediately, you need to contact us to discuss this
    and you need to consider a trading halt (see below).

    3. Is there any reason to think that there may be a change in the
    operating loss before abnormal items and income tax so that the
    figure for the financial year ending 30 June 2003 would vary from the
    previous financial year by more than 15%? If so, please provide

    4. Is there any other explanation that the Company may have for the
    price change and increase in volume in the securities of the Company?

    5. Please confirm that the Company is in compliance with the listing
    rules and, in particular, listing rule 3.1.

    Your response should be sent to me on facsimile number
    (03) 9614 0303. It should not be sent to the Company Announcements

    Unless the information is required immediately under listing rule
    3.1, a response is requested as soon as possible, and, in any event,
    not later than half an hour before the start of trading (ie before
    9.30am EST) on Thursday 12 June 2003.

    Under listing rule 18.7A a copy of this query and the Company's
    response will be released to the market, so your response must be in
    a suitable form and separately address all questions asked. If you
    have any concern about release of a response, please contact me


    Listing rule 3.1 requires an entity to give ASX immediately any
    information concerning it that a reasonable person would expect to
    have a material effect on the price or value of the entity's
    securities. The exceptions to this requirement are set out in the

    In responding to this letter you should consult listing rule 3.1 and
    the guidance note titled "Continuous disclosure: listing rule 3.1".

    If the information requested by this letter is information required
    to be given to ASX under listing rule 3.1 your obligation is to
    disclose the information immediately.

    Your responsibility under listing rule 3.1 is not confined to, or
    necessarily satisfied by, answering the questions set out in this


    If you are unable to respond by the time requested, or if the answer
    to question 1 is yes and an announcement cannot be made immediately,
    you should consider a request for a trading halt in the Company's
    securities. As set out in listing rule 17.1 and the guidance note
    titled "Trading halts" we may grant a trading halt at your request.
    We may require the request to be in writing. We are not required to
    act on your request. You must tell us each of the following.

    * The reasons for the trading halt.
    * How long you want the trading halt to last.
    * The event you expect to happen that will end the trading halt.
    * That you are not aware of any reason why the trading halt should
    not be granted.
    * Any other information necessary to inform the market about the
    trading halt, or that we ask for.

    The trading halt cannot extend past the commencement of normal
    trading on the second day after the day on which it is granted. If a
    trading halt is requested and granted and you are still unable to
    reply to this letter before the commencement of trading, suspension
    from quotation would normally be imposed by us from the commencement
    of trading if not previously requested by you. The same applies if
    you have requested a trading halt because you are unable to release
    information to the market, and are still unable to do so before the
    commencement of trading.

    If you have any queries regarding any of the above, please let me

    D Litis
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