Opinion
‘Safe harbour’ talk sends Mosaic Brands into rougher seas
The obvious question to ask here is: should the company have disclosed this fact? The less obvious answer is no, not under ASX continuous disclosure requirements.
Jemima WhyteSenior reporterEven in a jumpy market, a 15 per cent share price fall in a single day is usually a sure-fire sign that investors have been caught on the hop.
In the case of struggling retailer Mosaic Brands, the share price fall was triggered by the company confirming – in a roundabout way – a report in The Australian Financial Review’s Street Talk column that its directors were discussing safe harbour provisions.
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