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03/04/18
06:27
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You guys are amazing at how you will run an arguement on no bases at all. Your argument is that lack of specific sales announcement means no sales?
MB is absolutely correct and is backed by ASX rules.
No announcements does not = lack of sales.
Read http://www.asx.com.au/documents/about/abridged-continuous-disclosure-guide-clean-copy.pdf
from Section 3 the most relevant point to my case is :
3. What information does a listed entity have to disclose?
Listing Rule 3.1 requires a listed entity to disclose information “concerning it” that “a reasonable person would expect to have a material effect on the price or value of the entity’s securities”. This type of information is referred to in this Guide as “market sensitive information”.
The notes to Listing Rule 3.1 give the following examples of the type of information that could be market sensitive:
a transaction that will lead to a significant change in the nature or scale of the entity’s activities;
and the entry into, variation or termination of a material agreement;
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Significant is subjective.
Section 15 supports the argument that they should be informing us more about sales :
If an entity becomes aware that its earnings for the current reporting period will differ materially (downwards or upwards) from market expectations , it needs to consider carefully whether it has a legal obligation to notify the market of that fact. This obligation may arise under Listing Rule 3.1 and section 674, if the difference is of such magnitude that a reasonable person would expect it to have a material effect on the price or value of the entity’s securities.
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