1MC 0.00% 3.3¢ morella corporation limited

Class Action Lawsuit...Contacting Lawyers This Week, page-45

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    I personally want ASIC to investigate what I would term a related party transaction, by note holders who hold at least 10% of share capital. I believe note holders as a related party should have at least disclosed to the market the reasons why a previously disclosed waiver was broken between a related party and yeh company, why they choose to break that related party agreement- what actions did they take to inform the market about a related party transaction to allow the market to be reasonably informed, and how a related party handled private and confidential information whilst dealing with a competitor of AJM.It is extremely unusual that they they didn't wait until waiver lapsed, the decision seems forced, not fully thought through especially given that they are not just a lender. They are a substantial shareholder. Related party transaction are governed by ASIC and regulated under corporations Act and ASX
 
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