no one ever said don’t look at the performance shares, I won’t cry if JK loses them. All investors said was don’t damage the company which ASX particularly has done. I think you need to ask yourself, if the alleged issues with the performance shares are going to be easy to prove and ASX has behaved in an acceptable way, why is ASIC bothering with rubbish disclosure charges and not focusing purely on the performance shares? I think revenue being earned over multiple years will make it very difficult for ASIC. How can you honestly prove ISX didn’t think (or hope) some of these customers would not be dealing with them for the next 10 years? Hindesight is a wonderful thing but I’m not sure you can convict on it. Under that rational any CEO who hits performance shares by making a poor acquisition that turn out be highly value destructive should be in trouble. (And there has been plenty of those).
