AKP 0.00% $6.20 audio pixels holdings limited

Ann: Preliminary Final Report, page-363

  1. 2,561 Posts.
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    At this point in time I am extremely surprised to see AKP trading in the absence of a trading halt called for either by the company itself of by the ASX.

    I have just gone back and re-read the ASX's suspension from trading of 30/6/21 and the company's response of 5/7/21. I recommend all holders re-read the request for explanation and the resulting explanation given.

    ASX appears to have objected to the non-delivery of the promised time-defined demonstrability of the 'latest chips' as described by AKP in its previous announcements. The conditions that ASX objected to were very, very similar to those that currently prevail. If the promises made by the company back then were not material information that would be considered price sensitive I do not know what would be.

    I note the massively more detailed response and explanation provided by Mr Bart to explain and justify the no-show of the chip, that if nothing else, shows that details of this sort were available but were not given to SH until ASX dragged it out of Mr Bart. It is the most detailed information that I have seen as to what had gone on behind the scenes.

    Similarly if the promises made by the company more recently are not material information that will be price sensitive I do not know what would be. That makes the share price vulnerable to ignorance and panic.

    In short I think the company's level of disclosure is disgracefully inadequate, and should not be accepted by SH. We are also owners of the company but as a result of the lack of disclosure we are again left in limbo, while the stock trades as if everything carried on as normal. Mr Bart may own a lot more of the company's shares than I or most others do, but every one of my shares has a right to the same level of information as do those of insiders. This is not the case at present. And that has to be justified by some extremely good reasons.

    I can only imagine from here that there will be an imminent announcement or an imminent suspension from trading until the situation is made clear.

    I have held on - and even added to my holdings - on the basis that the promises made to SH have been and are trustworthy. I have every reason to believe that to be the case, but the communications from the company at this time have to be called out.
 
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