The email contact of the person from the ASX that raised the...

The email contact of the person from the ASX that raised the speeding ticket is as follows:

Attention: Adrian Smythe
Manager, Listings Compliance
By email to: [email protected]

I have already emailed him the following complaint. Hopefully other shareholders can also email him to complain so ALL shareholders will be treated more fairly and it will become a more level playing field for everyone :

I am a shareholder of Elders Limited and was not impressed to see the company’s share price fall by nearly 20% since mid November and more than 6% over the last two days.

I was even more appalled to find out that the company had privately held two investor briefings with institutional investors just prior to the latest tumble in the company’s share price.

Whilst the company stated that no information was released at the briefing that wasn’t already publicly available, why would institutions waste their time attending a briefing if that were really the case and if nothing new was disclosed?

It would not be difficult to just check the Elders share registry to find out who the major sellers of Elder’s shares were in the last 2 days and cross reference that list of sellers to the institutions that attended the briefing. If Institutions that attended the briefing did end up selling in the last 2 days, then surely further investigations would be warranted.

The fact that the company responded to your queries by saying that “factors (a) to (d) suggest that ELD’s second half performance will be stronger than first half performance in FY23” already implies that the information provided at the briefing was new and not yet readily available to the public and possibly sufficient for Institutions to determine whether this so called “stronger performance” would be above or below their expectations.

As a shareholder, I feel that I have been treated unfairly. All the information provided and discussed with the institutions at the briefing should have been made publicly available in real time. With today’s advancements in technology, this is not difficult or even costly to do so public companies should have no problems doing this in order to prevent insider trading and complying with their continuous disclosure requirements.

The share price falling 6% over 2 days after a private institutional briefing is highly suspect in my opinion and I hope you can assist and look into this matter further.

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