Ann: Less than Marketable Parcel Sale Facility, page-162

Posting on the relevant thread…

My understanding is that SPX organised a facility to facilitate the sale of small parcels. Their constitution allows them to bypass market pricing to do so. So fine.
They’ve appointed Red Lead and Lynx Advisors to execute this. To my knowledge, this has not been disclosed. There is a valuable information here in that Durak is a substantial holder and is founder and executive director of Lynx.
Another questionable consideration is that it gives a substantial holder a privileged access to shares at a discount.
What is also not clear is how some investors were contacted to purchase shares at $0.08. It’s obviously valuable information, alongside the number of shares being sold privately - 81mio.
The operating rule of this facility should also be disclosed. I find it odd that some intermediary can solicit investors for a private sale of shares unless this is strictly under the operating rules of the facility.
Together with other substantial holders, we intend to file a formal complaint on the ASX and SPX. I’ll keep everyone updated.