Why is ASIC suing ISX and not investigating and suing the directors directly. Excuse my ignorance in this matter. Presumably the performance shares could have been dissolved and new directors found? Or does the company have to be completely destroyed?
The other thing that bugs me is there was no issues when the performance shares were issued and worth significantly less. it was only when the company started to perform that ASX then later ASIC got upset.
Also I thought that directors and related entities owned 500mil shares. Not that this helps ISX case.
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