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Ann: SP1 delisted from ASX, page-269

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Guts

821 Posts.

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03/11/22

20:28

Post #: 64578052
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Originally posted by naomhan: ↑

Interesting idea. JK did indicate something like that in a quarterly update to investors, but he also seemed to say it'd be a minor reduction in 2 or 3 customers. Not a complete reduction. As I've said, only the most ludicrous JK fanboy actually expected that $500m was a realistic figure and expected result. Those are, funnily enough, still those suggesting that walking away from the $500m case was a strategic victory.

In my posts, I've been using $100m as a potential judgement amount if we were proved correct. An 80% reduction, and still worth putting $2m security at risk if you had any reasonable shot at victory.

I dont specifically recall what he was suing ASX under, but I dont think it was a negligence section, so may not be under tort law. Chillingout may know. I thought he was contesting for intentional disregard of some sort, perhaps contractual, not a negligent mistake. I dont think intentional disregard is a tort. Not a legal expert though.

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It was the ASX will treat the listed entity fairly, reasonably, honestly and in good faith versus listing rule 18.7 which is in summary, the ASX can ask for and publish whatever they want and if you don't reply or provide the information requested you will be suspended until such time you provide the information to the satisfaction of the ASX. ISX did not provide the in confidence legal information, so ASX did not lift suspension. What do you think? who was going to win?

Last edited by Guts: 03/11/22

SP1 Price at posting: $1.07 Sentiment: Buy Disclosure: Held
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Ann: SP1 delisted from ASX, page-269

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