NS, Subsequent to that announcement by LYC, in a media conference organised by AELB, they claimed not having received the stated submission from LYC.
This has created a lot of confusion in this forum and I would guarantee else where the news had been transmitted. Presumably the LYC switchboard and mailing system would have been flooded by calls and mails.
The present document on AELB site clears that confusion. How many shareholders would know where to search in the Malay and English jungle that is AELB site.
Would it be illegal for LYC to provide an announcement (attaching this file as this is probably publicly available document) to state that the AELB is reviewing the documentation submitted and further updates will be provided as they come to hand?
It won't step on any toes in Malaysis nor that it is a news for SMSL mob as they would be scanning these sites more than OMG who has a job while those SMSL mob's job is this.
While LYC admitted repeatedly that they stuffed up the value of communications, they don't seem to learn any lessons from that. Now they are stuffing up communications with shareholders. One step forward two steps backward. Or is it that the company had quietly informed the majority shareholders and damn these retail shareholders? Hence the low volumes?
While everybody bemoans the fact that the falls in shareprice are out of synch with fundamentals due to shorting by big boys, we seem to miss the fact that the market is sending a clear signal that they do not have faith in the company (in other words management).Management seems to be not even interested in sorting the minimum that they can easily clean up. No wonderthe SP is suffering like this and we along with it.
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