HOMEX - Perth
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Response to ASX Query re Share Price
RESPONSE TO ASX QUERY
We refer to your enquiry dated 27 January 2000 regarding a change in
the price of Adelong Consolidated Gold Mines NL shares from $1.06 on
25 January 2000 to $1.51 today, and reply as follows:
1. The Company is not aware of any matters of importance concerning
the Company about to be announced to security holders and/or the
market.
2. The Company is not aware of any information concerning it which,
had it been available to the market, might reasonably be regarded
as an explanation for recent trading in the securities of the
Company.
3. The Company is not able to offer any further explanation for the
price change in the securities of the Company.
4. The Company confirms that it is in compliance with the listing
rules and, in particular, listing rule 3.1.
D F Flinn
DIRECTOR
ADELONG CONSOLIDATED GOLD MINES NL
ASX QUERY
Australian Stock Exchange Limited ("ASX') has noted a change in the
price of Adelong Capital Limited's (the "Company") shares from $1.06
on 25 January 2000 to a high of $1.51 today.
We regard timely disclosure of relevant information as of prime
importance in the operation of an efficient market. Listing rule 3.1
is a particularly important listing rule. It is part of ASX's
continuous disclosure regime and is based on the following principle:
"Timely disclosure must be made of information which may affect
security values or influence investment decisions, and information
in which security holders, investors and ASX have a legitimate
interest."
In the absence of any information which explains the price change
referred to above, we wish to make the following enquiries:
1. Are any matters of importance concerning the Company about to be
announced to security holders and/or the market? If so, can an
announcement be made immediately?
2. Is the Company aware of any information concerning it which, had
it been available to the market, might reasonably be regarded as an
explanation for recent trading in the securities of the Company?
3. Is the Company able to offer any other explanation for the price
change in the securities of the Company?
4. Can the Company confirm to ASX that it is in compliance with the
listing rules and, in particular, listing rule 3.1?
The queries set out above cover matters of current specific interest
to us. However, we cannot be aware of all the information which would
be required to ensure that the market is properly informed in
accordance with listing rule 3.1. Accordingly, we would emphasise
that your responsibility under that listing rule is not confined to,
or necessarily satisfied by, answering the specific requests set out
in this letter.
If the information requested is information required to be released
pursuant to listing rule 3.1 your obligation is to disclose the
information immediately. Otherwise, your co-operation in lodging a
reply in a format suitable for release to the market is required as
soon as possible and, in any event, not later than 5 pm WST today 27
January 2000. Your response should be sent directly to me on
facsimile number (08) 9221 2020. It should not be sent to the Company
Announcements Office.
If you are unable to respond by that time you may wish to request a
trading halt in the Company's securities. As set out in listing rule
17.1 and the "Trading Halts" Guidance Note we may grant a trading
halt at your request. We may require the request to be in writing. We
are not required to act on your request. You must tell us each of the
following.
* The reasons for the trading halt.
* How long you want the trading halt to last.
* The event you expect to happen that will end the trading halt.
* That you are not aware of any reason why the trading halt should
not be granted.
* Any other information necessary to inform the market about the
trading halt, or that we ask for.
The trading halt cannot extend past the close of trading on the day
for which it is granted. If a trading halt is requested and granted
and you are still unable to reply to this enquiry prior to the
commencement of trading, suspension from quotation would normally be
imposed by us from the commencement of trading if not previously
requested by you.
A Walsh
ASSISTANT MANAGER LISTINGS
ASX
