Independent expert report, page-280

You said:

Okay, here it is:


Now, the statement of reasons states in detail that:



You said:


The answer is Yes, and as the market operator the ASX did inform the market about it. ISX themselves was informed of the reason for the suspension. This is proven by ISX having released an announcement days after, which stated that they welcomed the suspension and that it was in the best interest of shareholders.

Let me break it down for you:

ASIC is the overseer of the ASX.

ASIC expressed concerns towards ISX's books and records. ASIC also advised the ASX that they were considering launching a formal investigation.

TheASX took ASIC's concerns and advice seriously and decided to suspend ISX from quotation. At the time, presumable the ASX was not in possession of any evidence of any listing rules breaches because the queries has not yet begun.

The ASX investigated ISX together with ASIC. The ASX, however, as only a market operator has its investigative power restricted within the confines of listing rules.

ISX has now been found to have broken MULTIPLE listing rules just for the short period.

It also appears that ISX is still continuing to break listing rules. An example is Visa, not releasing independent report, etc...God knows what else...