STI 0.00% 0.2¢ stirling products limited

placement stock never got issued

  1. 6,513 Posts.
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    I would appreciate if someone can help please
    In march 2010 my broker rang me and ask me to put as much money as I could for a placement in sti i
    ended up putting 60 k .bt a month later I was issued with only 24 l
    Of shares .the other
    $36000 were held in their bank account.
    They told me was going to be a general meeting in June already 3 months
    But never ever eventuated
    To my surprise and anger I kept on ringing my broker
    To get my money back as I was concerned

    Could someone please if they know tell me the ASIC rules
    For not issuance of shares after a capital raising within a reasonable time
    Is there a clause specifying reasonable time
    I feel I got ripped never even got the chance to get my stock

    Please does anyone knows my
    legal rights I feel the broker should be responsible for earning a commission in doing so

    Please hrlp


 
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