I have had a response from ASIC re the complaint lodged some time ago. Has anyone else had a response?
To keep everyone informed ASIC basically state they will not be pursuing the matter any further. As for the shareholders other options such as a NO vote on the scheme or private civil action are still available remedies.
On a personal note I find it laughable when all it seems to take to cover yourself from the wrath of ASIC is to have something written down explaining why you are not in violation from any misconduct. Example given by ASIC in response to claim against a DV conflict of interest:
"We note that the Scheme Booklet sets out the manner in which Nexus managed Mr Voelte's common directorship in relation to the Scheme." in other words because the very people that are charged with misconduct have said it isn't so therefore it must not be so. Basically all complaints are null and void because a document released to the market on the 7th of May 2014 provides sufficient disclosure. Can someone say "Toothless Tiger" 5 times really fast?
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