SP1 (ASX) ASIC v ISX Hearing

What I love about JLO and his BS is that when it suits him he goes by things word for word with what is written. But other times inference and suggestive paraphrasing is more important to suit his narrative. JLO says that the OM report wasn't factually wrong, however it implies that the company and the way they gained the perf shares was illegal. But now in the court that it has been proven to be legal, he claims that the OM report was actually not factually incorrect because it only suggested/implied and asked questions.

Lets look at what the OM report says/implies.

OM claims that the performance shares were achieved by a margin of just $1,347. But what it doesn't say is that it was only the only milestone C shares that were close to the amount they claim. Milestone A and Milestone B were achieved by a margin of $3.5 and $1.7 Million dollars, but this is not mentioned in the report. Milestone C even if it was just $1,347 it is still met, tell me 1 company that doesn't try to achieve it's milestones? And all this has now been cleared through the court.

Much of the OM report is around revenue and earnings and perf shares and how they were achieved. Calling the ownership of the shares as OPAQUE. Well do you think that OM will now send out an apology letter stating that while they had their doubts about the legality of the shares and how they were earned, they now would like to eat some humble pie and apologise to the directors and all the SH that were caught up in the volatility suspension they caused? Maybe next time they will choose to check with the company first before issuing the report? Nah, don't let the court ruling get in the way of a good "shorters report" and money earner.

We all knew this stunk to high heaven because there was a grudge against JK. OM started it and ASX grabbed a reason to stop any competition to its payment system. Good grief, have the ASX after all these years been able to achieve a payment system yet? HA no wonder they were concerned.

Anyway, I'll get off the soapbox now, JK wins when it comes to the $$$$ but his rep is tarnished. But lets get 1 thing straight here.

This is what is in it for JK and family. Do even the "NON-ISXFEU" posters believe that he and the family will just take salaries and pay no dividends to its SH when they hold this many shares? 556,797,754 (5,569,797) and if a 50c dividend is paid out? They company pays $5.5 million. 50% goes to who? Is it worthwhile listing do you think? Even if it goes private, is it worth paying a dividend?