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8-09-2020 - so why is ISX still suspended from trading by ASX?, page-43

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Rodeoshow

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09/09/20

16:47

Post #: 47213265
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Originally posted by DoubleL: ↑

ASX must be extremely concerned right now about ISX being reinstated to quotation.

The problem they face is what happens to the SP on reinstatement - if holders loose money on trades as a direct result of ASX suspending ISX without necessary evidence (supported by a judge) then the quantum of damages through a class action could be absolutely massive and may well be as large as the ISX claim if not larger.

For example if our shares lost 50% on listing that means shareholders wealth drops from 1.2 billion to just 600 million dollars.

In essence the loss to shareholders wealth is 600 million. Of course not all would sell they would just have paper losses but they would still loose the opportunity to cash out and realise their wealth.

This in total could make a full damages claim over 1 billion dollars combined with the ISX claim.

This is just my opinion only and a court must ultimately decide whether the suspension or at least the duration of the suspension is reasonable.

The risk to ASX seems to be getting greater as everyday passes.

DYOR

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that is exactly why they won’t let it trade...

ISX Price at posting: $1.07 Sentiment: Hold Disclosure: Held
4 Upvote

0 Great analysis

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