I think its far easier for them to boot it off the register and...

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Christopher67

981 Posts.

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03/04/24

13:59

Post #: 73168473
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Originally posted by Aussie Eagle: ↑

Chris, 'no longer bound by the toothless tigers ASX and ASIC?'

There's an easy answer/comment I employ on that which is "Plausible Deniability"

ASIC have handed over responsibility of 'regulating the Market' over to ASX-listed entities as in if there's any problem that arises from that 'contract' then ASIC would have to have a chat as to why those regulations haven't been upheld.
That'd take forever imo.

Basically ASIC have put a plausible deniability clause into place wherein they themselves aren't responsible for their own rules !
They've passed their rules of investor protection onto a listed company valued at over $12 Billion.
I can't see them giving a toss over a minnow like this, haul them over the coals, reprimand them, or more importantly, show that they WILL protect investors and the small-cap market in general.

That (imo) is the disgraceful behaviour the 'authorities' are displaying which CGB are, and have been, taking full advantage of to make the best of such conditions.

Imo, the buck stops at ASIC.
If they're happy to oversee and go along with corruption/irresponsibility then the whole small-cap market is doomed imo.

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I think its far easier for them to boot it off the register and pretend they didn't exist, than to actually hold a company to its legal requirements.

100% they do not care about retail investors, and why would they? We aren't the ones paying their exorbitant fees to keep them running.

Some posters claim that they are insisting the company provide updates via their website.
Besides the fact that their Investor Portal has now been removed, if they were unwilling to provide updates for the past 2 years on the ASX, do we really believe they suddenly will start now, on their own website?

In other unexciting news, ASIC has no longer recorded a strike off.

Last edited by Christopher67: 03/04/24

CGB Price at posting: 2.1¢ Sentiment: Sell Disclosure: Held
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