I would like to advise shareholders of CuDeco that there has been no material change or any other change to the company. The relentless selling and short selling of shares by a group of hedge funds and our largest shareholders is allowable without interference from the regulators. The company has an independent analytical report indicating blatant manipulation by four funds and this has been handed to ASIC for investigation. The company has made a formal application to ASIC to have CuDeco exempted from the short selling. I, as Chairman, can only apologise for the conduct of these company’s and the fact that they are allowed to operate this way. The company has not received a formal reply from ASIC.
WM does know what happened.
I have my own thoughts as to who and why.
CDU Price at posting:
$1.77 Sentiment: Hold Disclosure: Held
