With respect Ftwind what do you expect Mgmt to do over the holiday period other than what they have done.
1st of all they are confronted with:
. part of an undated purported 'newsletter' that they were not aware of,
. and did not send,
. which had been posted online by an unidentified ex shareholder after the market had closed,
. (and who had sold their interest in the Company on Christmas eve prior to the market closing), and
. the said unidentified ex shareholder had apparently received the part of a 'newsletter' from another
. unidentified source, possibly from Monash Uni, but maybe not, probably written sometime in 2018.
That apparently is the 'evidence' to date.
When the Company became aware of the above they put out a 'Market Release' saying they had not received the 'part of a Newsletter' and had asked Monash whether they could confirm the 'veracity of the communication' or not.
They further stated that they were not a part of the project mentioned in the 'newsletter' but they are a party to a development/evaluation project concerned (CRP-P) which shareholders know is still a 'work in progress' and hasn't been completed.
They finished by saying they would update the market further 'as appropriate' when further information from the (official) CRC-Project has been completed, reviewed, and the data collated by the Company.
And, presumably, after any further information with re to the 'newsletter has been found.
So, as a result of the very 'thin' evidence in the 'newsletter', and despite the market update from the Company, it would seem that quite a number of shareholders 'panicked' and sold out.
This affected 'stop losses' used by other shareholders which triggered further falls when other 'stop losses' were hit.
Personally, given the circumstances outlined above, I don't really have a problem with the Company's response. The whole sad little saga may be a 'cock-up' caused by shareholders panicking and the snowball effect engendered by that.
Or it may indeed be more sinister.
But the Company hasn't panicked, and they may well 'know nothing' of who, or where the 'neswletter' came from. And thats what they've said.
I have no reason at present to disbelieve them.
But the amount of FUD (fear, doubt, and uncertainty) spread on Hotcopper is a wonder to behold.
Theres got to be a salutary lesson there somewhere for all of us.
Just as an aside, I have neither bought nor sold NHL since this episode commenced.
I'll wait and see what transpires before doing anything anyway.
Donos
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