ESG (ASX) help wanted

Originally posted by Gunsmoke ↑

"..Nervous is dead right, they rang me with "you know if this isn't approved then ESG is finished, they have NO GAS and NO MONEY and they will go BANKRUPT!..."

if that is what JP Morgan are in fact saying to s/h, then aren't JP Morgan giving out "Financial Advice" ?????

and there are all sorts of rules, regulations, wrt providing people with "Financial Advice" !!

they (JP Morgan) have to be a licensed advisor,
they have to give you a Policy/disclosure Statement or something before they provide that advice,
etc, etc

if they are telling ESG s/h that "ESG is finished, they have NO GAS and NO MONEY and they will go BANKRUPT" then that is advice - because it ain't in the IER - and thats NOT what the ESG directors have said!

Questions need to be asked of the ESG Board as to what is going on wrt JP Morgan, what is their involvement, are ESG Board aware of this, who is paying for JPM calls.

I would also suggest that what they are doing (if they are saying the stuff above) it may well be illegal!

it could put the Scheme meeting in jeapody, because s/h may be unduly influenced by spurious advice being provided to s/h.

the Scheme is a court sanctioned proceedure, and striclty controlled. (or is supposed to be).

ESG s/h are supposed to make their decision based on court approved info - and JP M "advice" or commentary is not approved by the Court.
If is is not approved by ESG, then ESG may have a real problem.

If the Scheme is approved at the meeting, and someone stands before the Court on the second hearing, and says "Hey judge, we believe the s/h voted Yes because they were told such and such by JPM. The info supplied by JPM was not approved by anyone. As such the s/h of ESG were unduly influenced by the JPM campaign. HAD those s/h not been influenced illegally (or prejudicially) they might well have not voted Yes. Mr Judge, that voting was tainted, and the results s/be disregarded, and a new Scheme or meeting s/be held, such that the spurious JPM info can be vetted by ESG before it is provided to s/h".