I know very well what went on because I raised the very issue J refers to with many parties associated with the "Skip" takeover - including the two responsible ministers, King, (Minister for Resources and Minister for Northern Australia), and Gallagher, (Minister for Finance). I also drew it to the attention of the inquiry established to examine the establishment of National Anti-Corruption Commission.
I also raised the issue on any number of times with "SKIP"; (Ms Kim Jackson and Mr Scott Farquhar) and their legal representative, Allens.
The proposed breach of the Northern Australia infrastructure Fund Facility Act 2016 inherent in the proposed takeover was of course raised with NAIF and its Chairperson.
NAIF is mentioned once in the ASX Announcement and NOT in the context of the $625 million concessional loan
The BofD of Genex and J-Power have some explaining to do. Firstly, did they obtain legal opinions concerning the $625 million concessional loan from NAIF to Genex Power Ltd?
It is very disappointing that a fully owned Australian Superannuation fund has not, (as yet), expressed interest in a takeover, with a view to using the company as a vehicle to substantially expose itself to the renewable energy sector.
GNX Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
