Thorn Group was pinged by the ASX today for lodging its 3Z form (final directors interest notice) 11 days late. This was attributed to an inadvertent, one-off error of omission owing to confusion following the sudden departure of the CEO. I’m happy to take that explanation at face value, but the fact that it happened is worth noting.
I consider it a tiny white mark (as opposed to a black mark) against the company. For a business with a class action against it and prior evidence of weak regulatory compliance (i.e. the ASIC penalty), these sorts of things are not confidence-building. Further errors could theoretically result in a change of views. Have noted this for future reference.
I hold shares in Thorn Group.