ASX spells out definition of "aware" in second query to Zoono

Anti-bacterial producer Zoono has responded to a second set of questions from ASX regarding its awareness of market-sensitive information that saw its share price spike in recent weeks.

On September 15, the ASX questioned whether Zoono (ASX:ZNO) was aware of unannounced information that pushed its share price from 21.5c to 30c in the space of a week.

Zoono said it was not.

On Tuesday Zoono announced a contract with a Chinese company RBCGO “to sell its unique antimicrobial products to Chinese consumers through home shopping TV, radio and online channels and via the Alibaba and TMall platforms”.

That prompted the ASX to issue a second query in which it carefully spelled out the definition of “aware”.

“An entity becomes aware of information if, and as soon as, an officer of the entity (or, in the case of a trust, an officer of the responsible entity) has, or ought reasonably to have, come into possession of the information in the course of the performance of their duties as an officer of that entity,” the ASX explained.

The ASX lecture continued with definitions of “exceptions to disclosure” and “confidentiality”, before it asked Zoono when it became aware of the latest deal.

In a lengthy reply, Zoono told the ASX negotiations began on September 22 and concluded the same day the deal was announced to the market.

“Prior to the commencement of contract negotiations with RBCGO in Auckland on 22 September 2017, while the company had met with RBCGO in China and had supplied samples of its products, the company does not regard any activity it had undertaken in that respect to be information that a reasonable person would expect to have a material effect on the price or value of its securities (and, therefore, information which the company must disclose to the market), company secretary Elissa Hansen said.

Zoono was in full compliance with listing rules, Ms Hansen said.

Zoono shares were trading at 32.5c in Thursday morning trade after hitting a record high of 35c on Tuesday.

Zoono produces skin care, surface sprays and a baby care range focussed on killing germs.

Formerly a gold exploration company, Goldsearch, New Zealand-based Zoonoo has been listed since May and reported $NZ1.2 million ($1.1 million) in sales last year.