Ann: Response to ASX Query Letter, page-15

HDY have slightly changed their story, it does not appear to me they have a lawyer handling these responses.

Hiding behind privelege for a document that would clear up a chunk of the issue and has no real sensitivity is crazy. That response also dodged the question by not confirming they had such written advice, which is how you use lawyers, you dont chat you submit your questions and get a formal response on paper that is the point. Then you chat.

Additionally it is clear they have failed on several basic governance fronts.

It may be my interpretation but it seems like ASX have evidence to support their position and are giving HDY a chance to prove them wrong or come clean... not seeing either.

I suspect we may see an ASIC letter soon.

What a mess!