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ASIC Commences Proceedings Against ISX and JK, page-77

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aniesbaswedan

6,681 Posts.

1545

07/12/20

15:24

Post #: 49396241
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Originally posted by Fernzy: ↑

An interesting question will be who ASIC means to target in this matter. If it believes JK has done the wrong thing and wants to pursue him that’s one thing. If it means to destroy a whole company and the retail shareholders invested in it, over a matter where the only affected parties are those same shareholders that it is seeking to protect this would be an unusual position wouldn’t it?
Rather than gloating over an accusation, as a shareholder I’m interested in the reality of how this may play out.
eg Scenario - JK fights to the bitter end but is disqualified from being a director, personally fined and has the performance shares stripped.
where does this leave the company and retail shareholders? Current revenues remain real and without question. Number of shares reduces meaning overall value of the company remains the same with $330m less shares. New leadership with a compliance and audit background who had nothing to do with the matters in question (eg Elizabeth) takes the helm.
Would asic really seek to destroy the company? If so WHY? The shareholders are the only people they are claiming to protect and they are going to protect them by completely destroying their value?

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Do you believe that ISX offers KYC or AML as its principal activities?

ISX Price at posting: $1.07 Sentiment: None Disclosure: Not Held
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