EDITORIAL: ASX QUERIES LATE DIRECTOR INTEREST STATEMENTS
September 28th 2008 00:58
Wednesday September 24, 2008
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ASX
Proteome is the most recent biotechnology company to respond to an ASX query regarding late director’s interest statements.
Biotech Daily is aware that the ASX has been requiring responses from companies that have been late in filing director’s interest statements.
Proteome told the ASX the statement was two days late due to “an administrative oversight”.
On September 5, 2008 Circadian told the ASX it was one day late in filing an Appendix 3Y director’s interest statement “due to an inadvertent omission”.
Circadian said it was the first time in the company’s history that it was late in filing a director’s interest statement.
Biotech Daily has accepted these explanations and deemed them so minor as to not be newsworthy.
However, all chief financial officers and company secretaries should be aware of this recent change of pattern of inquiry by the ASX.
In April, Biotech Daily questioned the ASX about absent and/or late director’s interest statements in relation to the Opes Prime Stockbroking collapse.
At that time, the ASX said filings were required if they were “material” but was unable to provide a meaningful definition of “material” (see Biotech Daily April 10, 2008).
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