The following is being sent to the ASX:-
Mr Lachlan Morley
Listings Compliance
Dear Mr Morley
Through you the ASX is aware of a Report of Misconduct lodged with the ASIC’s Mr Peter Witham. The progress made with the JPGA Power Pty Ltd takeover of Genex Power Ltd reveals that the Report of Misconduct was ignored by ASIC.
You were kept informed about matters concerning the Report of Misconduct and other issues related to the takeover but on not one occasion did you acknowledge receipt of the information.
You are undoubtedly aware that matters have moved on from the allegation of market manipulation, by way of the Genex Power Ltd board failing to disclose crucial physical and financial information pertaining to “K2H”, to the seeking of an answer to the following question; from NAIF, as the source of the $610 million loan and/or ASIC, the market supervisor:-
“Under what legislative, regulatory or ministerial authority does NAIF intend to transfer the taxpayer funded $610 million concessional loan from Genex Power Ltd to the foreign corporation J - Power, (and associated legal entities)?”.
Can you explain why the ASX has seemingly ignored this latest development, a development which has been brought to the attention of many parties, including the NACC and the Australian Federal Police.
I refer you to the following link so that you cannot claim the ASX is not aware of the situation:-
https://hotcopper.com.au/threads/australian-government-solicitor-ags-and-the-missing-legal-opinion-s.8063202/
As you can see the AI generated document contained in the link gives rise to potentially very serious matters which it seems reasonable to expect ASIC to have investigated for the ministers responsible for the Northern Australia Infrastructure Facility Act 2016; Ministers King and Gallagher.
Why has the ASX not directed Genex Power Ltd to make an ASX Announcement to inform the market and Genex shareholders of the unresolved issues raised by the yet to be answered question?
I am posting this email/letter to you on HotCopper. Many shareholders are interested in the Genex/J - Power bid but few, if any, have the will-power and/or ability to pursue those with responsibility for what seems, with the passage of time, could be a scam being perpetrated against the Australian Commonwealth Government.
Will you finally see fit to respond to correspondence by explaining the lack of an ASX Announcement from Genex Power Ltd?
This email has been cc'd to the AFP.
Yours sincerely
HLP
