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17/07/20
14:20
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Originally posted by largeraj:
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On the 1st May 2020, the ASX directed that: “In accordance with Listing Rule 18.8(l), ASX directs ISX to engage an independent expert, acceptable to ASX, to review its policies and processes to comply with Listing Rule 3.1 and to release to the market the findings of, and any changes ISX proposes to make to its compliance policies and processes in response to, the review. The review should also assess each contract that ISX has entered into since 1 January 2018 (other than the Key Contracts) to determine whether or not a reasonable person would have expected information about the contract to affect the price or value of ISX’s shares and, if so, whether ISX has disclosed the matters set out in section 4.15 of GN 8 in relation to that contract. To the extent it hasn’t, ISX will be expected to make corrective disclosure and, if it does not, ASX will give a further direction under Listing Rules 18.8(a) and (b) that ISX do so.” the. • Independent expert report on ISX continuous disclosure having found that it: • “…did not identify any contract entered into by ISX with customers since 1 January 2018 that has not been disclosed and that, in our opinion, was of such a nature that a reasonable person would have expected information about the contract to affect the price or value of ISX's shares. ” When you write "I'm clarifying that the issues facing ISX are far bigger then just one or two continuous disclosure events. The expert is supposed to cover a lot more than just that. ", I can't see from the above, specifically what other items you are expecting to be reported. Can you help me out here?
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Originally posted by retiredyoung:
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Below is what the expert was meant to cover. Note: the ASX excluded the Key Contracts. “In accordance with Listing Rule 18.8(l), ASX directs ISX to engage an independent expert, acceptable to ASX, to review its policies and processes to comply with Listing Rule 3.1 and to release to the market the findings of, and any changes ISX proposes to make to its compliance policies and processes in response to, the review. The review should also assess each contract that ISX has entered into since 1 January 2018 (other than the Key Contracts) to determine whether or not a reasonable person would have expected information about the contract to affect the price or value of ISX’s shares and, if so, whether ISX has disclosed the matters set out in section 4.15 of GN 8 in relation to that contract. To the extent it hasn’t, ISX will be expected to make corrective disclosure and, if it does not, ASX will give a further direction under Listing Rules 18.8(a) and (b) that ISX do so.”
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Yes that's fantastic, so now let's see to what depth the agreements, specifically Nona, were analysed. What level of scrutiny was there beyond a normal audit? Let's see the report and the degree to which the contracts were analysed. We have been over this already, the details of those contracts, the trail of money is incredibly important and to this date, we still have no public information that provides clarification on those issues. You get me a forensic auditor who looks beyond a bank statement and I will be satisfied that ISX have done no wrong. Their word, and 2 lines in a shareholder briefing is not enough to remove the substantial amount of doubt surrounding the events concerning ISX.Show us the report.