someone might have already said this, but ASX serious dropped the balll in monitoring ISX announcements! were ASx even monitoring ISX's announcemetns for compliance with listing rules and continusous disoclosure?
in 2016 ASX had policy that: "ASX considers that if a transaction is sufficiently material to warrant disclosure under Listing Rule 3.1, the identity of the other party or parties will generally itself be material information that must also be disclosed under that rule. Such information is required by investors and their professional advisers to understand the ramifications of the transaction and to assess its impact on the price or value of the entity's securities" https://www.asx.com.au/resources/newsletters/listed_at_asx/listed-at-asx-20160725_0716.html did asx staff even know of this policy? seems not
but ASX kept letting ISX make announcemetns that didnt name counterparties! see list of announcements ASX refers to in 7.8 of the SOR and this continued even after ASX starting asking questions in early 2018 about GSW's and BIG's disclosure of materual contracts and clients and revenue
i reckon asic should take a close look at whether asx adequately enforcing the listing rules and ensuring there is an informed market asx always willing to go hard on the smaller end but lets the bigger end of the market run amock
ISX Price at posting:
$1.07 Sentiment: None Disclosure: Not Held
