So in a nutshell, we have waited 3 years for this. JK and team like many others directors in other small caps across the ASX set up a performance share gig. They did some colourful accounting to earn shares which many already new about as they voted for. Since then, years after the fact, the SP started to rise and many investors decided to hope on board. JK ruffles a few feathers and for payback a short report by OM dobs him in and ASX decide to move on this years later. All the new investors without inside knowledge like jlo get caught out. The ASX then decide the best way forward is to suspend the stock for 3 years to “protect” investors in a huge bull market.
What ASIC and ASX managed to do was ruin an Australian start up, stop JK from selling his possible I’ll-gotten shares (of which he never actually sold any) and as a consequence has managed to lose many life savings and have many in financial hardship for the sake of .......... sorry not sure why tbh.
So ASIC and ASX managed to get JK out of the country with SH $$$ because SH couldn’t see any other option. Either trust JK or lose Everything anyway. SH are still exactly where we were before, just the narrative has changed. It’s either we list elsewhere or we are done for. In any of this, where or how has the ASX had the best interest of SH at the forefront? What were they trying to achieve?
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