'The Panel has declined to conduct proceedings on an application dated 29 March 2018 from Auris Minerals Limited in relation to its affairs......
....The Panel concluded there was no reasonable prospect that it would make a declaration of unacceptable circumstances and Auris had not provided a sufficient body of material to justify the Panel making further enquiries as to the alleged association. Accordingly, the Panel declined to conduct proceedings.
The Panel notes that Mr Martin accepted he made an oversight in relation to the disclosure of his voting power in Auris and informed the Panel that he would lodge an ASIC Form 604 and Appendix 3Y in relation to his interests.1 .....'
Well, that was a quick kick in the backside for management. On first blush the action taken is a big negative against the 2 actioning Directors ( I assume that Mr Martin would have not been involved in making the decision) and their advisors, who they were.
AUR Price at posting:
6.2¢ Sentiment: None Disclosure: Held
