Originally posted by Mutley8
Originally posted by share_time
You believe the following paragraphs in the article are not relevant to this company nor one of it's current directors?
I think you better do some additional reading.
""There have to be at least at least 70 and possibly considerably more listing applicants that we've just rejected [since March 2016] on the basis that they're too early stage, that they're operating in jurisdictions that we don't particularly like or that they've got poor governance relationships," Mr Lewis said."
"We've just removed it from the official list, having now addressed some pretty poor behaviour by some of their former directors and some questionable conduct that happened in their administration," Mr Lewis said."
That being said if this is the new approach from the ASX half the small caps are going to be delisted. Still, you have to start somewhere and Im all for tighter controls to protect shareholders.
90% of the spec end would go before WFE. How many coffee and donuts directors have you seen or had bleed your cash? The credibility of the article lol from yet another manipulating news outlet is just hot air after the public grilling and terrible exposure the ASX got for dodgy monitoring and failure to act against banks in the royal commission. So now they beat up little ol’ species? If the ASX has limitations assessing the viability of companies in other countries they should delegate the task to a third party who can!
Put it this way, nothing in the article is new rules that weren’t around years ago.....
Yet another down ramp from a non holder clear.png
Mutley, very true, if the ASX was to delist every stock that had a dodgy director that was involved or didnt increase in value for there holders then we would only have the top 200 ASX listed companies, as an example a company I looked at this morning BBX was at 34.5 cps on 13/06/2017 after trading at 1 cps previously, within 18 months the SP is at 17.5 cps, is this a P&D stock and why arent the directors banished and the company delisted, the reason being before that happens there is a ton of negative boxes need ticking, WFE havent got one negative box ticked and in fact its the ASX that is holding up the relisting with there due diligence now, I say great work ASX make the directors responsible and when there is an announcement released it will stand up to any scrutiny, I feel for the holders of the above mentioned stock and they should also applaud the ASX tightening up, we should get news on the 30/01/2019 one way or another
