Sorry to burst your bubble but my post was taking about the decision on the performance shares. You had your say with the other ones and now I'm showing you, the forum and the world that in the case of performance shares, ISX won. Yes the court found he did breach in other areas.
For example he agreed that for a while JK was
right to hold back the VISA information, but in the end took too long. So for the first month ASIC and ASX were
wrong and the judge found JK was
right. But then after that it was wrong for him to continue to not disclose, therefore a breach. (even though he found it was material when no stock could be traded and made no difference to the SP at any time.....
.) Gotta love the LAW right.....
What the Judge didn't talk about though was that JK didn't trust the VISA AML concerns and disagreed. And now that we have come to see the massive volumes of Euros going through the business, I wonder why VISA were so concerned with AML? Where they really AML concerns or loss of business concerns maybe? The judge didn't mention his thoughts on why Mastercard and any other cards continue to deal with ISXFEU, but again, that's not relevant to VISA so it's ignored.
Total Processed Volume € 2.4 B revenue €32 Mill and growing all the time. That's no chicken feed in anyone's language.
So in conclusion what do we see. JK still owns a crap load of shares. JK's breaches didn't really damage the SH in fact he made a crap load of money for many people. So JLO said that he was disgusted that GH is only thinking of his money and that he should be ashamed that the CEO did these breaches. But old mate Jlo, unlike GH, actually made good profit on JK's breaches. Thanks to JK saying that only 15% of the revenue was one off payments it helped the SP rocket. Jlo, as you are so disgusted by GH comments, does this mean you'll check your profits and hand it all over to charity? Because goodness me if you were to keep that money now knowing this dirty CEO misled the market and you profited from that? How could you live with your disgusting self with this knowledge?????? I have a feeling you will keep those ill gotten gains, and conveniently forget how ISX made the SP and MC climb, no?
It is clear that JK told a few porky pies. It is clear that JLO tells others they should be ashamed but profits on those same porky pies. It is clear the OM report was actually incorrect and the Performance shares were legally achieved. It is clear that ASIC will spend years and millions of dollars to go after ISX for saying that revenue was more than it was and it is clear that they won't go after OM even though they caused this with a report that has turned out to be factually incorrect and lead to the suspension of ISX due to SP volitivity. It is clear that the VISA issue, really was a non issue, just not in the eyes of the law and well after ISX had been suspended. It is clear that the main goal in this was ASX to find that those Perf shares were ill gotten but they failed. The real reason for the suspension, and now the court ruling is that it is clear JK and friends will continue to own every last one of them.
So ASIC and ASX hounded us for this, ended up having a great Australian company move overseas and all for what? JK can't be a director in Australia anymore? OMG he mustn't be THRILLED. If this in turn affects an IPO elsewhere OMG he steps aside but runs the company anyway? Well done to ASIC and the ASX you spend years and Millions on a job well done.
Finally, JLO don't forget to gift that $$ you gained to a charity of your choice, Mr Morals.
