Have you thought why this ASX Announcement has been made.
I have been lobbying the ASX on this matter from very early on, ( Mr Lachlan Morley). Not once did the ASX respond. Like ASIC, the ASX ignored my Report of Misconduct about what was in essence involved market manipulation arising from failure to provide financial reports re K2H. To do that would have required revealing the terms and conditions of the $610 million loan. Then it, again, like ASIC, the ASX ignored the question I raised with NAIF, ASIC and the two responsible ministers about the legality of the transfer of the loan to JPGA Partners Pty Ltd.
The ASX refused to instruct Genex Power Ltd to inform its 8000 odd shareholders about this challenge to the LEGALITY of the agreement reached between NAIF and the Target and Bidder solicitors.
ASIC now has a duty/obligation to appear before before Mr Justice Black at the NSW Supreme Court on 19 July and explain the situation. Explain why NAIF has not obtained an opinion either from the SOLICITOR-GENERAL or the AUSTRALIAN GOVERNMENT SOLICITOR, (or both).
Minsters King and Galllagher, Assistant Treasurer Jones and Attorney-General Dreyfus ought be expecting no less from ASIX?
GNX Price at posting:
27.0¢ Sentiment: Hold Disclosure: Held
