Totally wrong implication and wrong direction of argument. Should put it this way instead, you went to HN and bought a new tv. They should have advise you the estimated delivery time and who is the delivery company. In this case, TV went missing and IHL is sitting there acting innocent. They should have gone after the firm that help to deliver the redomicile to find out what is going on or even talk to ASX. The Broker data is easily obtainable.
When Joel said the whole process is seamless, he should have given consideration to the situation and consequences as he and the board are the one initiate the redomicile.
Things they should have done and didn't: 1) Include the procedures and wait time in order to access and activate account on Computershare US along with the redomicile info pack and voting form. Don't tell me it is not their responsibility, they chosen Computershare US not the other way around. They should have done their due diligence and inform the shareholders.
2) For a board or CEO with such high salary, I would have expect he at least appoint someone to draft up a step by step guide or instructions on how to transfer out your shares from Computershare US to other major Broker platform eg CommSec and Westpac.
3) As for the shares missing on the last day of trading, the company should have considered all the possible consequences and kept the shareholders informed. Eg: T+2 issue, shorter issue and registry issue. Even though there is nothing IHL can do, but they should have inform the shareholders the potential issue. Plus, redomicile is not a common practice on ASX at all, they should have engage firm that helped other ASX to redomicile in the past to ensure the Seamless process. Missing shares might also happened in the past or might not, but at least shareholders know what to expect.
To conclude, when you are the one who suggest and initiate changes, but take no responsibility in the process or consequences. You will get backfire for the very reason. How hard it is to keep people inform? Acting innocent is not the supposed strategy implement by them.
IHL Price at posting:
4.1¢ Sentiment: Sell Disclosure: Not Held
