Sold: shareholders last to know (as always), page-9

Imo, McVeigh seems to be quite explicitly opening the door here for sophs (e.g. Ellerston) who participated in the $28m May 2021 capital raise to initiate legal action against directors perhaps in parallel with an ASIC prosecution. And for retail shareholders like us, it’s a very straightforward argument to make that these same investor presentations the sophs relied upon in May we replied upon too, to maintain or increase our holdings here.

The collapse came very swiftly, it wasn’t as if there was a big time gap between the presentations & assurances given for the Institutional Placement in May and the Receivers being called in. I wouldn’t yet disregard the possibility of sophs taking the lead here - I sense (anecdotally) the irritation with Middlemas et al now runs deep over this. Sophs and their advisors and score-settlers will be viewing McVeigh’s report in a clear and unvarnished light.

Re Swiericzuk’s statements/tweets etc, imo this will no doubt get a thorough review and airing in the scenario above and/or when ASIC decides what it is going to do. I’ve read a few of these sorts of reports and I have to say that I think McVeigh, from his choice of words, is quite angry at what he believes is obstruction, and ASIC won’t ignore him.

I hope anyone here with connections to any of these sophs, or with inroads to ASIC or ASX, makes a few calls in coming days & weeks and agitates strongly for action. This bullish!t and dodging by the likes of Middlemas & board needs to be made an example of.