Letter to shareholders and update on resolutions., page-71

If you don't answer the question then it will be difficult to proceed with any further discussion. The question is very specific that everyone else with any shred of intelligence and I would understand that there is no reason to not answer it. Very simple yes and no question with some explaining at the end. You won't answer it simply because you know what the answer entails. I will admit that it was a trap question, the best kind to allow people to realise for themselves the truth.

If you don't want to read any further then that is fine becaue the company is hell bent on delisting anyway. If you want to know what is waiting for holders after delisting:


My view: The suspension would not be lifted until ISX can account for all of their revenues that resulted in the performance hurdles being met, which they will never be able to.

As for listing rules breach:



Wirecard is the biggest corporation fraud scandal in German's history.

Suspicion was raised back in 2016 by a third party with regards to a systematic fraud. The suspicion was then followed up by financial times and they released a report again alleging fraud. Not at any point did both the bourse and the regulator took notice of it. To give you some perspective, wirecard only worth a few hundred million euros in 2016. By the time the fraud was finally fully uncovered, the company had already reached upwards 20 billion euros. At every step of the way until the eventual revelation, wirecard denied any alleged wrong doings and sued everyone who dared to raise any suspicion of fraud.

Should the German bourse suspended wirecard back in 2016 pending outcome of an investigation? Yes. Should the bourse investigated wirecard back in 2016? Yes. Both didn't do so and failed their duty. It cost the market upward 20 billion euros.

In the case of ISX, suspicions was raised by a third party ie. ownership matters and the media with regards to revenue. ASIC apparently lasered in on the suspicion and expressed their concerns towards ISX's books and records. They also advised the ASX that they are considering launching formal investigations, which is evidently now is still ongoing. Soon the ASX suspended ISX "in consultation with ASIC" after having told ISX sometime in advance of their intention. Note: ASIC is investigating the same matters as the ASX as per court submission by ISX. So the ASX did some investigation and found that ISX had broken multiple listing rules. The ASX also found that:



Hence the question that I asked you...the one that you refused the answer. Your approach to the question is basically what ISX is doing. If I am company A in that question then I should rightfully be suspended and delisted and prosecuted by ASIC, death penalty if need be.