The is no reason for Jackal or myself to call CEO. Both are no holders.
In fact you should be the one calling asking for reason why there are not buyers for your shares.
Opps, there is one buyer at @0.145 (200K) which also could be a "window dresser" to look respectable.
If he cancel his order , well - only $2000 worth of shares can be sold.
Don't know what pice you paid but I think you hold more than number of buyers and what about your loss on trading ????????.
Just look at 1 year chart and follow what happened to other stocks in the sector which were involved in Vet Fee.
If you are an investor and check procedures, media stories and similar companies announcements it is plain picture that Government was sick of many colleges focusing more on making money out of VET than delivering education and enrolling capable students only.
I mentioned on several occasions that the first procedures for Government is to get ASQA involved to review if such college was in breach of rules.
The next step is : give them a warning or refer to ACCC for further investigation with possibility of fine or legal charges. Just look at Careers Australia story for example.
If this is a case with Productivity Partners and ASQA investigation started in early 2016,
this can explain why price of SIT was dropping. (view SIT chart for 12 months)
Some closer to the news maybe sold @ 0.20+ while there were buyers. others (perhaps like yourself) are at loss.
I have one question only for you: if one day you will find out that my potential theory that ASQA and ACCC were investigating from let's say February , March (starting of SP decline)
and SIT didn't mentioned this in any of their announcements, how are you going to feel?
Would you sold you shares months ago if you knew? Are you going to call ASIC and ask whether or not shareholders should be informed once a company was informed?
I think that any investigation is price sensitive. What's your opinion?
Perhaps you know why SIT didn't get paid for almost a year because I don't buy story that it takes Government almost a year to withhold payment without a genuine reason.
Jackal mention about legal action. The one I can think only is possibility of previous owners of Wild Gees, Innovium and Productivity Partners who accepted 2/3 of payment for their business in shares. Yes, shares they can't sell on the market and I don't think SIT have money to buy those shares back.
I assume they all sitting and keeping fingers cross that SIT will receive payment from Government. Hopefully they will, but how much?
I say you should be the one making call to CEO.
Your shares, your money - what's stopping you for a peace of mind and giving me shower for assuming that ASQA and ACCC are the main reasons for not receiving outstanding payment.
PS. If you make that call, please let us know. I have no skin in SIT (so no gain or loss) but would appreciate CEO comment.
SIT Price at posting:
16.0¢ Sentiment: None Disclosure: Not Held
