Bill is back. Not sure how your positivity is doing Bill but I'm cooked, none left. Zero zilch kaput. We've all been conned and it seems perfectly legal somehow. I wish it would be over so i can try put this whole experience behind me. If only i had not put that buy order in 1 hour before the suspension kicked in. Big thanks to PD for the shares he was offloading for duped simpletons such as myself to buy from him when he knew there was no funding. I can cop what i bought in 2019 but the mid January purchase has left me with a particulary nasty taste in my mouth that won't go away. Such is life (No, I'm not a director Ratbag), live and learn i guess.
I did inquire with the ASX recently if they could let me know
1. What exactly they have done since January?
2. Why still suspended?
3. Any update on the progress of their investigation.
I did get a reply. Unfortunately it didn't say anything at all useful so shareholders are are still just long term mushrooms.......well probably not mushrooms at least they get fed. Though i guess the company announcements in 2020 had enough BS in them to fertilize a mushroom farm for eternity so now i am the one talking S*%t. So we are just meant to have faith in the system i suppose...... because that has gone really well for us all so far.
I have pasted the reply from ASX below. I'll be intersested to see your comments.
Dear Mr XXX
Integrated Green Energy Solutions Ltd (‘IGE’)
ASX refers to your email of 21 September 2020 raising concerns in relation to IGE, namely the status of ASX’s ongoing enquiries and the ongoing suspension of IGE’s securities from official quotation.
1.ASX’s ongoing enquiries
ASX is currently making enquiries in relation to IGE pertaining to its compliance with its obligations under the Listing Rules. ASX will make enquiries of a listed entity where it is not satisfied that the entity is in compliance with its obligations under the Listing Rules, including but not limited to its continuous disclosure obligations, its periodic reporting obligations, and its ongoing obligations to have sufficient operations andan appropriate financial condition. Due to the nature of these enquiries, ASX is not in a position to give you a timeframe in relation to when they may be resolved or an indication of a probable outcome.
2.Suspension
In accordance with its responsibilities as a licensed market operator, ASX must be satisfied that IGE is in compliance with its obligations under the Listing Rules before ASX would consider reinstating its securities to official quotation. Again, ASX cannot give you an indication on whether IGE’s actions and responsesto ASX’s enquiries will enable this to occur.
3.Possible outcomes
Referral to ASIC
If ASX finds that a listed entity has committed a significant breach of the Listing Rules, it is required to refer the breach to ASIC, so that ASIC can then consider whether or not it wishes to take regulatory action in relation to the breach.
Other possible outcomes
If ASX finds that a listed entity has breached the Listing Rules, in addition to referring certain matters to ASIC, ASX may take action of its own accord to redress that breach. Sometimes that action will be made public through market announcements by ASX,or by the entity. In other instances, it may not be made public. It is our usual policy, for legal and regulatory reasons, not to notify a shareholder who asks about the status of ASX’s investigations, of the outcome of our enquiries into the matter. If the matter is to be dealt with publicly, a market announcement will be made in due course so that the entire market is aware of the way in which it has been dealt with. Accordingly, if you do not see a market announcement(s) about Listing Rule issues, you should assume either that our enquiries have concluded that there was no breach of the Listing Rules or, if there was, it has been dealt with to our satisfaction on a confidential basis. Rest assured that we take our obligation to monitor and enforce the Listing Rules very seriously and if we do find that IGE has breached its obligations under the Listing Rules, we will take appropriate action against it.
We hope this letter serves to provide some clarification in relation to your concerns.
Yours sincerely
ASX compliance
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