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The latest announcement is out from Austal ( (AU:ASB) ).
Austal has disclosed that it was in breach of ASX Listing Rule 12.7 after its Audit & Risk Committee was chaired by a director later deemed non‑independent, following the February 2025 resignation of former independent chair Sarah Adam‑Gedge. The company explained that although the board continued to view then chair Brent Cubis as capable of exercising independent judgment despite his affiliation with a major shareholder, it had failed to appoint an alternative independent chair promptly, resulting in non-compliance with governance requirements for S&P/ASX 300 entities. Austal has since restored compliance by appointing independent non‑executive director Sue Murphy as chair of the Audit & Risk Committee on 18 December 2025 and highlighted additional safeguards, including rigorous conflict-of-interest declarations, potential temporary changes in committee leadership, and ongoing engagement with external auditor Deloitte, to ensure independent oversight of financial reporting and risk management.
The most recent analyst rating on (AU:ASB) stock is a Hold with a A$7.86 price target. To see the full list of analyst forecasts on Austal stock, see the AU:ASB Stock Forecast page.
More about Austal
Austal Limited (ASX:ASB) is an Australian-listed shipbuilder and defence contractor that designs, constructs and supports naval and commercial vessels, with a focus on high-speed aluminium ships and related maritime services for government and commercial customers worldwide.
Average Trading Volume: 1,210,776
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$3.02B
For detailed information about ASB stock, go to TipRanks’ Stock Analysis page.