Rhinomed Limited
(ASX:RNO) has announced it has agreed to pay ASIC a $33,000 penalty for an infringement notice.
The payment is related to an announcement made by the company on 15 May, with Rhinomed stating the payment to ASIC is not an admission of liability.
Since May Rhinomed has undergone change at the board level and reviewed and improved its corporate governance and disclosure policies.
Rhinomed has offered ASIC an enforceable undertaking, which it has accepted, and an external advisor has been appointed to improve Continuous Disclosure processes.
Rhinomed reported a net loss of $2.78 million at 31 December 2015.
