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Sequoia Financial Group Ltd. ( (AU:SEQ) ) has issued an update.
Sequoia Financial Group has responded to an ASX query over a potential breach of Listing Rule 15.7, which governs the release of market-sensitive information. The issue arose after CEO Garry Crole disclosed to a journalist, during a trading halt, the identity of the party negotiating to buy InterPrac Financial Planning, on the understanding the information would not be published until after any deal and ASX announcement.
The company has acknowledged that this disclosure was not authorised under its continuous disclosure policy and was not compliant with Listing Rule 15.7, though it stressed the lapse was unintentional and occurred while its shares were in a trading halt. Sequoia says its board and officers are focused on confidentiality, and it will review its continuous disclosure policy and internal training at an upcoming board meeting, with outcomes to be communicated to the market.
The most recent analyst rating on (AU:SEQ) stock is a Hold with a A$0.26 price target. To see the full list of analyst forecasts on Sequoia Financial Group Ltd. stock, see the AU:SEQ Stock Forecast page.
More about Sequoia Financial Group Ltd.
Sequoia Financial Group Ltd is an Australian financial services company listed on the ASX. It operates in wealth management and associated financial planning services, including through subsidiaries such as InterPrac Financial Planning Pty Limited, focusing on advisory and planning support for clients and authorised representatives.
Average Trading Volume: 205,928
Technical Sentiment Signal: Sell
Current Market Cap: A$26.35M
Find detailed analytics on SEQ stock on TipRanks’ Stock Analysis page.