Ann: ASX litigation - security for costs order, page-162

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jlo2012

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06/08/22

00:13

Post #: 62957659
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Originally posted by Advent1969: ↑

I agree - to a point.

Time to stop some of this senseless litigation.

The aim of the litigation was initially to get relisted, and then it evolved into a plan to allow the company a means to negotiate its demerger.

The company is now demerged, and away from the clutches of the MO, who at very best is incompetent, and at worst is corrupt.

Re-listing is no longer possible for SP1 - too much baggage. Demerger has been achieved for ISXF, so I think its time for the BOD to find a way to gracefully exit, maybe with a small win of some sort. Perhaps walking away with each party bearing costs?

The ASX claims to have spent upwards of $6m so far in the security for costs application - at this rate, the ASX will simply outspend SP1 and keep requesting more security, such that this case will cost SP1 the ASX costs as well as its own costs to be funded up front. That's some massive lock up of capital which has to come from ISXF, which I think ISXF is better of spending on growth.

I dont think the original premise for the litigation was folly, but, continuing would be now that ISXF is demerger. I do note that JK's position changes/evolves as things change, so Im not sure that JK is a "holy warrior" as you claim, but likely more of a pragmatist.

As for IPO - no one in their right mind would want that now. Whilst there are some IPO's happening, the overall volume and the success of this is way down. I see no rush to IPO.

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Just a reminder to you all that this "new" account that has intimate non public knowledge of the history of ISX is suggesting to you all that SP1 not proceed with its litigation against ASX. Narrative change.

SP1 Price at posting: $1.07 Sentiment: None Disclosure: Not Held
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Ann: ASX litigation - security for costs order, page-162

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