A "reverse speeding ticket"

[MichaelD]

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

 

[prawn_86]

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

 

[bas]

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

 

[kenny]

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