Its very clear that a full and frank account of all the trades leading up to the announcement must be investigated by ASX and ASIC.
This is a blatant and serious contravention of the Corps Act and all insiders must be held to account.
I'm sure it's not hard for ASX to unravel and investigate all the 'insider' buying in the weeks preceding the announcements made by PDY.
Bet my bottom dollar that the buying and stock manipulation was associated with entities or associates of the parties to the alleged financing transaction. My opinion, but this smells so bad that the stench can be smelt miles away.
Based on the track records and history of the parties involved, it would be an absolute disgrace and injustice to the shareholders and investors of PDY if this is not fully investigated by the regulatory bodies that my tax payer dollars are funding.
Get off your ass ASX and ASIC, do something meaningful for a change and review this entire saga from start to finish. More importantly, prepare a brief and start working on prosecuting the people behind this blatant insider trading and market abuse so that at least some form of integrity and level playing field can be returned to our financial markets.
It would be absurd if nothings comes out of this. ASX/ASIC should be thrown the book if that's the case. I wonder if ASX/ASIC can be prosecuted for not taking any action?
PDY Price at posting:
3.3¢ Sentiment: None Disclosure: Not Held
