It simply comes down to this - I profited from ISX (not as much as I could/should have) and they haven't and are stuck holding it still, uncertain whether they will ever have a market to sell into and if they do likely for 70-80% less than last traded price. They hate that I made better choices and they are stuck with no choice but to continue to "support" management of this company because they have thrown away any remaining protections they had whilst the company remained in Australia.
They need to find people to blame, hence the attraction of getting caught up in all the victim narratives. "I'm a victim of a grand conspiracy between ASIC, AFR, ASX, ACCC, AICD, OM, VISA, JLO, ETC...." - when in reality it is the actions of the management of this company that have resulted in both the suspension and the ASIC prosecution in the Federal Court. All of the above distraction and noise are so that shareholder attention isn't directed at why they remain unlisted, why holders can't get a cost basis for their tax affairs post demerger, why ISXF has loaned $mils to JK's brother, why $mil was wasted on a failed legal proceeding against ASX, why it comically keeps NSX on life support and loans and "invests" more money into that company (hint - NSX directors gotta get paid) etc.
Did you all realise that the demerger could have happened the same day as the suspension? Why go through the ASX legal battle and waste multi millions of $$$ to then walk away from it? The reason I suspect was to create such an victim narrative that you all would vote for the demerger. Yet years later - no listing and no chance of one this year and in my view, never.
SP1 Price at posting:
$1.07 Sentiment: None Disclosure: Not Held
