Ann: Request for Extension of Voluntary Suspension, page-39

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mangbck

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20/07/18

11:28

Post #: 34472820
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Originally posted by Coffeebean ↑

Thanks for your feedback gentlemen (including insaf's comment in this reply). While most of your comments are sound I would like to clarify and elaborate on a couple of comments I disagree with;

"Pretty silly post coffee bean. Shows the lack of understanding" - ummmm, passing judgement on someone you do not know is not the most productive way to express yourself, but I will leave that with you.

"Unless you want the market operating with a select few knowing what is going on, this is a required process" - this is the whole point of the continuous disclosure rules of the ASX and also for internal Corporate Governance regulations. I reiterate that we are being made to suffer for the leaky ship/continual tweets/delayed process. I agree with debono saying we can vote with our feet, but the suspension precludes me from doing that, hence my frustration.

"Would you just be happy with an update saying progress on course" - yes, fully inform the market as per your ASX Listing Rule obligations!

"If you are suffering then it is only created by you and your decisions. Blaming the company you invested in seems a bit of a cop out" - Incorrect. If I wanted to invest in a Private Company where divestment is labourious and time consuming, I would have. I invest in ASX listed entities for their liquidity and the chance to buy and sell when I desire. The suspension and extensions are again, contrary to what underpins the ASX and its the lack of adherence to the Continous Disclosure Rules that has created this situation.

Guys look in summary, I am overall pleased with my investment in VEC and have enjoyed the banter with you all. I'll be signing out on this thread now but in summary, regardless of whether you are at the high-end or low-end of the market we are all bound by the same rules, and these Continuous Disclosure rules are there for a reason - to ensure we have a fully informed and free market for us to enter and leave as we wish. This suspension and continued extension is contrary to this premise and is the cause for my rants here today.

Good luck to all and hopefully I can come back here next week and high five you all!!

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If what you say is true, that is there is a lack of adherence to the continuous disclosure rules, then VEC would be in trouble with the ASX. No such issues with the ATO at this stage, but only with yourself and your need to get out and reduce your opportunity cost. Maybe next time reduce your investment so you have some backup funds to put elsewhere?

VEC Price at posting: 2.7¢ Sentiment: Hold Disclosure: Held
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Ann: Request for Extension of Voluntary Suspension, page-39

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