BUNDY 2 You obviously missed the 2010 AGM where the CEO expressed his annoyance, if that is the proper term, that a huge number of manhours and resources were spent photocopying every cheque butt and scrap of paper over the history of the company for ASIC. The board wouldn't give us any info about their dealings with ASIC as this in an ongoing matter.
ASIC is first mentioned in NOTE 9 in the "NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2009" as follows:
NOTE 9: EVENTS SUBSEQUENT TO REPORTING DATE On the 28 January 2010, the Australian Securities and Investments Commission (ASIC) launched an investigation into Planet Platinum Ltd in relation to various matters. Planet Platinum Ltd and its directors are complying with the requirements set out by ASIC in its investigation. The nature of the outcome of the investigation is not yet clear and is not able to be quantified at time of preparation of the financial report for the half year ended 31 December 2009.
PPN Price at posting:
35.0¢ Sentiment: Buy Disclosure: Held