Adairs pays ASIC fine without liability

Company News

by Kathy Skantzos

Adairs (ASX:ADH) has paid an infringement notice issued by ASIC after allegations it contravened its continuous disclosure obligations.

The company has denied these allegations and said it complied with its disclosure obligations, but has agreed to pay the penalty regardless.

ASIC investigated disclosures in the homewares and bedding company between September and November last year in the period leading up to the 2nd of November 2016.

The fine was for $66,000 which now concludes ASIC’s investigation and any additional costs.

The company said payment of the fine is not an admission of liability of the allegations.

Shares in Adairs (ASX:ADH) last traded 2.19% lower to $1.57 a share.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.