Australia's Structural Monitoring slides on beginning court proceedings

Structural Monitoring Systems

16/10/2025 04:23

** Structural Monitoring System SMN.AX slides as much as 26.5% to A$0.305, lowest since April 22

** Electronic products manufacturer says proceedings began in court by CEO & Executive Chair and Turton House Group Pty (applicants) against co, certain units, individuals

** Proceedings include allegations that applicants subjected to adverse action in contravention of Fair Work Act 2009, victimisation under whistleblower provisions of Corporations Act 2001

** Co denies allegations; says will defend the proceedings

** About 686,452 shares traded, 6.4x the 30-day average

** SMN last down 10.8%, taking YTD losses to 22.1%

 (Reporting by Sherin Sunny in Bengaluru)

 ((Sherin.Sunny@thomsonreuters.com))