Actually the generic PLEASE EXPLAIN notice handed out by the ASX is very straightforward to fillout. If its a "I know nothing" response, ie, the response is a NO, NO NO and NOT Applicable to the 4 standard questions, then as far as I have seen over many years the ASX accepts this at face value. Usually no drama. Of course whether any body believes the answers or not, well that's another matter but I have seen hundreds of these "I know nuffin" responses and they seem to get through okay. So I can only assume JDR must know "something" and however they have framed the response in that respect the ASX is not satisfied with. If there is some substance, then I would have thought the response would be in the affirmative to several of the questions. In this case the ASX it seems usually accepts this but then may issue a MARKET AWARE notice which asks the company when was the "something" known to the company and by by whom. But it would appear we have not got to the Market Aware notice issuance. Can't help but think the initial response to the Please Explain which can be done promptly must have left a lot to be desired. If so, cant imagine how long it would take to prepare a response to a "Market Aware" notice given this requires a significant thoroughness in adequately responding.
Lets hope this is not amateur hour as we don't want repeats.
JDR Price at posting:
1.7¢ Sentiment: Hold Disclosure: Held