WFE 0.00% 2.4¢ winmar resources limited

Ann: Removal from Official List, page-80

  1. 6,778 Posts.
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    Ok if you feel the need to .........

    apkjm's post never mentioned being able to talk about anything, but as a shareholder of either a listed or in this case unlisted company you always have the ability to pick up the phone and call the director.
    recap of post: I've not seen many spec plays with up to date websites. Also your a shareholder in a private company now so jump on the phone and call the director and ask him what the plan is.

    BUT because you have broken your sentence with triple full stops, it reverts to 3 points of statement we can break down for ease of explanation.

    re: "as @apkjmmentioned, we now have the liberty of calling the board and discuss anything..Point 1they too do not have any overhang about the previous ASX rules of non-disclosure and all that... Point 2 so they can probably talk more freely...Point 3

    (1) - we now have the liberty of calling the board and discuss anything -
    as long as it doesn't contravene the Corporations Act
    (2) - they too do not have any overhang about the previous ASX rules of non-disclosure and all that -
    unlisted disclosing entities are subject to the continuous disclosure obligations in section 675 of the Corporations Act, ASIC Regulatory Guide 198 provides guidance on how an unlisted entity should comply with its obligations under the Act. I note the wording "should comply" as this is something WFE weren't very good at while listed.
    (3) - so they can probably talk more freely - as above - (point 1)

    Your inference that they do not have to abide by any listing rules is correct only because they are no longer listed (and me referring to them was for ease of explanation as generally shareholders would be aware of ASX disclosure obligations versus knowing them under the Corporations Act) BUT the company is still bound by the Corporations Act, which I will add is the regulatory body that guides the ASX, the rules are identical making your inference incorrect.

    Quite happy to be factually corrected if you could point me to where following regulations are not required because of being de-listed.

    As for pointing out reading the next line, it had no relevance to the discussion of ongoing and continuous disclosure obligations and regulatory rules that governs the company but is an opinion (which I agree with) about the salesman speak that could sell you a polished t..... and you will only smell roses.

    I would be surprised if you would be able to ring and get any "moving forward" information of substance , other than director speak tit bits, considering on page 11 of the Annual Report, under the heading of
    Likely Developments and Announcements the company refrained from including information as the Directors believed it would likely result in unreasonable prejudice to the company. IMO, my take on that, unless they can get their financials sorted there is no "moving forward".

    I note that some are reporting back after correspondence with the company, (see above paragraph) salesmen will sell and this company has for quite some time released more information to shareholders via email/phone calls/twitter than what has been officially announced and quite honestly and in my opinion is part of the problem that faces stocks, the "Chinese Whispers" Note 1 , "he said/she said" Note 1, "winky winky" Note 1 or
    "I herd" Note 2
    IF it isn't announced on the prescribed platform (currently for WFE, website) then I personally take it with a grain of salt.

    Note 1: Usually unproven and hearsay that leads to hype and a pump, creating a FOMO
    Note 2: Intentionally incorrectly spelt to highlight IMO what causes the herd mentality, results of Note 1or commonly called hype!!!

    cheers

    Last edited by fooca: 23/06/20
 
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