BLT - Blis Technologies

[Harvey Specter]

http://www.nzherald.co.nz/business/n...ectid=11314115

Continuous disclosure breach?

FMA puts on its denture and will bite - it's a small company, see?

yet a company director (and former CEO) can sell her shares 2 days before a negative announcement.

Keep it up FMA.

Plus isn't this the company where a director/major shareholder deliberately manipulated the shareprice for personal gain - nothing to see here.

[simla]

Don't suppose the FMA/NZX are too pleased to be looking at this really.Seven minutes is unfortunate, but clearly also demonstrates that it was just a slip on a Monday morning. And even if that full $24k had sold out at 3.1 later in the morning instead of the 2.5 it closed at, which isn't that likely anyway, it was a worst case of about $10k of the $258k that sold that day. I haven't a clue what I would do if I was them.

[GR8DAY]

.....I think they just need to take a deep breath, drop a couple of Blis K12s and go do some real work. It's a non event in the scheme of things.

[Harvey Specter]

It's a non event in the scheme of things.

Exactly. Plenty of other examples to concern themselves with with much larger $ impacts. How about the lyttleton port takeover announcement which was hidden in a SSH notice - deemed a non issue..

[Minerbarejet]

So who is going to blink first this morning- 25/26 or 29
This is hilarious after yesterdays nearly 10 mil and all thats changed hands so far is 34000

[silverblizzard888]

Slow morning, good build up at 2.5, but most of the sell sides at 3 or above.

[Harvey Specter]

I don't think this is a non event tbh.

I agree. But if they are going to start doing their job properly, this is not the one to start with.

Edit: lets face it, any serious trader would already have read it since the SST article was linked on here. serves you right if you aren't consulting this site for your investments!

[simla]

BLT ... should know better.

I don't think being seven minutes late on a Monday morning shows you didn't take it seriously, since obviously they did attempt to make the announcement early. It more likely shows that you just got approval for your factory to go into full production a few days previously and have your hands pretty full on all fronts.

As for the authorities, I actually think they have improved a lot from the old days and are getting a little better every year. It must be admitted that they have a very difficult role. And they have acknowledged this situation only the next day.

[Nigel]

I don't think being seven minutes late on a Monday morning shows you didn't take it seriously, since obviously they did attempt to make the announcement early..

My guess is that they had submitted the announcement prior to 10am but it wasn't 'processed' in time by NZX. In any case, Blis shouldn't be disclosing price sensitive information to reporters (unless under embargo) until it's been announced via the NZX.

The impact of this doesn't seem to be significant however - first trades were at 2.2c, even after the announcement came out I think trades still went through at 2.2c. Would people have pulled sell bids at 10.07am as soon as the announcement was released? Unlikely. People watching the stock that closely would have already been across the news.

[Harvey Specter]

My guess is that they had submitted the announcement prior to 10am but it wasn't 'processed' in time by NZX. In any case, Blis shouldn't be disclosing price sensitive information to reporters (unless under embargo) until it's been announced via the NZX.

I do wonder what time it was submitted.