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DATADOT TECHNOLOGY LIMITED — Director's Dealing 2009
Oct 8, 2009
64764_rns_2009-10-08_91d82a43-d4fd-4c28-84df-bb93397cbf62.pdf
Director's Dealing
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9 October 2009
Ms Kimberley Brown Senior Adviser, Issuers ASX Markets Supervision Pty Ltd 20 Bridge St Sydney NSW 2000
Dear Kimberley
Re Appendix 3Y - DataDot Technology Limited (the “Company”)
With reference to your letter of 8 October, the answer to each of the questions asked of the Company is as follows:
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The director did not notify the company of the transaction and the company did not lodge the Appendix 3Y within the prescribed time because the transaction was initiated by the director’s broker, not the director, and the director was not notified by his broker that the transaction had occurred. The broker has sent the following written explanation: “all [the director’s] holdings were transferred to a new custodial platform and we mistakenly believed that as beneficial ownership had not changed, notification was not required.”
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As a matter of Company policy directors are required to notify the Company Secretary of any change in shareholding at the time the change is made and to confirm such notification at the next Board meeting.
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The Company intends to add an additional element to its Director Share Trading policy, namely: “Directors are required to instruct their brokers that all transactions affecting their notifiable interests must be initiated only on the director’s instructions.”
Yours sincerely
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Graham Loughlin Company Secretary
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8 October 2009
Graham Loughlin Company Secretary Datadot Technology Limited Unit 9, 19 Rodborough Road Frenchs Forest NSW 2086
ASX Markets Supervision Pty Ltd ABN 26 087 780 489 20 Bridge Street Sydney NSW 2000 PO Box H224 Australia Square NSW 1215
Telephone 61 2 9227 0133 Facsimile 61 2 9241 7620 www.asx.com.au
By Email: [email protected]
Dear Graham
DataDot Technology Limited (the “Company ”)
Re: Appendix 3Y – Change of Director’s Interest Notice
We refer to the following;
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The Appendix 3Y lodged by the Company with ASX Limited (“ASX”) on 7 October 2009 for Mr Gary Flowers (the “Appendix”).
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Listing rule 3.19A.2 which requires an entity to tell ASX the following:
A change to a notifiable interest of a director of the entity (or in the case of a trust, a director of the responsible entity of the trust). The entity must complete Appendix 3Y and give it to ASX no more than 5 business days after the change occurs.
- Listing rule 3.19B which states as follows:
An entity must make such arrangements as are necessary with a director of the entity (or in the case of a trust, a director of the responsible entity of the trust) to ensure that the director discloses to the entity all the information required by the entity to give ASX completed Appendices 3X, 3Y and 3Z within the time period allowed by listing rule 3.19.A. The entity must enforce the arrangements with the director.
- The Companies Update dated 27 June 2008, reminding listed entities of their obligation to notify ASX within 5 business days of the notifiable interests in securities held by each director and outlining the action that ASX would take in relation to breaches of listings rules 3.19A and 3.19B.
The Appendix indicates that a change in Mr Flowers’ notifiable interest occurred on 11 August 2009. It appears that the Appendix should have been lodged with ASX by 18 August 2009. Consequently, the Company may be in breach of listing rules 3.19A and/or 3.19B.
Please note that ASX is required to record details of breaches of the listing rules by listed companies for its reporting requirements.
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ASX reminds the Company of its contract with ASX to comply with the listing rules. In the circumstances ASX considers that it is appropriate that the Company make necessary arrangements to ensure there is not a reoccurrence of a breach of the listing rules.
Having regard to listing rules 3.19A and 3.19B and Guidance Note 22: “Director Disclosure of Interests and Transactions in Securities - Obligations of Listed Entities”, we ask that you answer each of the following questions:
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Please explain why the Appendix was lodged late.
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What arrangements does the Company have in place with its directors to ensure that it is able to meet its disclosure obligations under listing rule 3.19A?
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3 If the current arrangements are inadequate or not being enforced, what additional steps does the Company intend to take to ensure compliance with listing rule 3.19B?
Your response should be sent to me by e-mail at [email protected] or by facsimile on facsimile number (02) 9241 7620 . It should not be sent to the Company Announcements Office.
A response is requested as soon as possible and, in any event, not later than half an hour before the start of trading ( i.e. before 9.30 a.m. A.E.D.T. ) on Monday, 12 October 2009.
Under listing rule 18.7A, a copy of this query and your response will be released to the market, so your response should be in a form suitable for release and should separately address each of the questions asked. If you have any queries or concerns, please contact me immediately
Yours sincerely
[ Sent electronically without signature]
Kimberley Brown Senior Adviser, Issuers (Sydney)
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