A "reverse speeding ticket"

• 12 November 2008

• #1

MichaelD

Not fooled by randomness

Joined

7 December 2005

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I'm sure many of us here have seen ASX "speeding tickets" - a PLEASE EXPLAIN notice from the ASX to a company over a rapidly advancing share price.

Well, here's something I've never seen before - a "reverse speeding ticket" asking for an explanation of a share price decline.

You'll need to scroll down past the company's reply to see the ASX query.

http://imagesignal.comsec.com.au/asxdata/20081111/pdf/00901949.pdf

(or if you can't get to the above, the same announcement is here on the ASX site)
http://www.asx.com.au/asxpdf/20081111/pdf/31djkcz8fpywlx.pdf

 

• 12 November 2008

• #2

prawn_86

Mod: Call me Dendrobranchiata

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23 May 2007

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Have seen them before but they are not all that common.

 

• 13 November 2008

• #3

B

bas

Joined

26 March 2007

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We will probably see more please explains for down movements than ups for a while yet

 

• 13 November 2008

• #4

kenny

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12 October 2007

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I guess the ASX's concern is with manipulated movements or someone acting on inside info.

I'm still annoyed with actions like the NAB guy Fahour selling out $3.2 million of his shares just before the crippling placement announcement. All legal and legit, I know. Of course he would have had NO idea it was coming along or that it would cause the sp to fall, right?

Cheers,

Kenny