Thanks jaz. if the asx is questioning the JBF acquisitions then it is directing the questions at the body (HML) that is exiting it's ownership of JBF? my understanding of the structure is that JBL is the majority owner of JBF (possibly via it's ownership in BRL).
HML is a minority shareholder in JBF that is in the process of offloading it's share to JBL. wouldn't you direct questions regarding the purchases made my JBF to the majority holder not the minority shareholder that is exiting ownership?
let's not kid ourselves, all of these entities are tied together but if these transactions are bogus (as some of our friends on this forum are suggesting) then the announced transactions would result in JBL holders being ripped off, not HML holders. in fact, HML shareholders would be benefiting at the expense of JBL shareholders. does this mean that the asx is directing this at HML not JBL because JBL is listed on the nsx. does this mean that the nsx doesn't care or it's rules are more lax than the asx's?