Ok so our friend @siciliavin can be quite the tin foil hat man at times, but lets look at undeniable facts. Let's look at today in court and how we were discussing whether in 2018/early2019 announcements were material to the SP. While we can see some spikes both up and down and looking at the volume, I think we can safely say it is really insignificant compared to the price fluctuation and volume towards the end of ISX's life on the ASX.
So ASIC are coming after JK and ISX for performance shares and the VISA issue (while we are suspended and only possibly one commercial off market trade during that time). But what we aren't concerned about is the possible leaked information to the press, information that possibly someone was leaking information out of the ASX (according to their text messages proof is there so not unsubstantiated), and a report from OM that in all likelihood caused days of the biggest jump in the SP and volume in the entire life of the company?
So let me say this again so everyone can clearly understand the situation here.
1) What is happening ASIC are going after ISX for possible (still no real evidence) of possible performance shares issues 2 years after the event due to leaking of information to the press and in a report from OM when there was little to no impact on the daily share price, (we are talking 1.5-2c according to the ASIC expert). Plus the possible late notice of the termination of a contract by VISA that ISX wanted to try and rectify, while it was suspended and no shares could be traded.
2) What isn't happening ASIC seems to be ignoring or finding the above to be more important than to investigate the last trading days of ISX showing the biggest drop and volume in the company EVER by 100's of % based on information that may have been leaked out of ASX and also a report given to only a small % of investors so they had information to get out or short the company before it hit the papers.
Now I truly cannot fathom how anyone can see how ISX holders and management can come to any other conclusion that for some reason ISX and JK are being targeted and this is actually an unfair/bias situation. IMO and surely logic, that if I saw these things, I would believe that the most recent and extreme situation should be the one investigated first and if in this investigation evidence was shown that ISX has done something fraudulent then ASIC could move on ISX at a later date.
This last paragraph for me is the most logical way that this should have been handled. But due to it being in reverse, many retail shareholders have not had the opportunity to take a tax loss, or use the money locked away in ISX for 4 years. Shame on the negative posters her, shame on OM, shame on ASX and especially shame on ASIC for handling this A over T.
SP1 Price at posting:
$1.07 Sentiment: None Disclosure: Held
