ASX/ASIC - Complaints

This has been past on to me via another shareholder that I regretfully suggested to buy into NXR many many moons ago. This couple and dear friends of mine are now in the process of having there first new born baby and could have done with their extra hard earned, which has now been manipulated by management - I'm sorry!


Enough is enough!

Nemex Resources Limited (“NXR”)

ASX refers to the online report raising concerns about NXR’s lack of response to, and poor communication with, its shareholders and continuous disclosure obligations, particularly in respect of the results of the validation testing of the Wavefront technology.

ASX would like to thank you for making the time and effort to bring these matters to its attention. These types of communications are an important source of intelligence for ASX in performing its role of monitoring and enforcing compliance with the ASX Listing Rules.

As you may be aware, ASX can only take action with respect to suspected breaches of its Listing Rules. The quality and timeliness of communications between shareholders and directors / management do not fall within the matters directly addressed by the Listing Rules. Notwithstanding this, we have made enquiries with NXR and been advised that there is an appropriate mechanism to deal with shareholder complaints and communication. We have encouraged NXR to ensure that it has the appropriate shareholder relations policy and facilitates shareholder contact with the company.

For this same reason ASX is unable to carry out an investigation into “the merits” of NXR or Wavefront or the intentions of its directors as such scope is not provided for in the Listing Rules. However, in relation to NXR’s continuous disclosure obligations we refer to the following announcements:

1. NXR’s quarterly activities report for the period ended 31 December 2016 lodged on ASX’s Market Announcement Platform on 31 January 2017 which stated:
   “Wavefront have advised that the testing has commenced, including up to 20 live subjects initially and the timeframe for the testing and summary of the results to be completed is within four to six weeks.”

1. NXR’s half yearly financial report for the six month period ended 28 February 2016 lodged on the Market Announcement Platform on 14 March 2017 which stated:
   
   “Wavefront advised that it had commenced further independent validation testing at Purdue ICBR in January 2017 and the results are expected in the near future. The Company continues to support

Wavefront in its current technology development and will reassess its position once results are received.”
Following discussions with NXR they have advised that they are not able to provide further information regarding the timing of the results but will update the market as soon as they are in possession of the necessary information.

For your reference, information about the types of matters that fall within ASX’s jurisdiction and those that fall within ASIC’s jurisdiction can be found it on our website at:

http://www.asx.com.au/documents/about/corporations-act-vs-listing-rules-matters.pdf

Please be advised that ASX continues to monitor NXM’s compliance with its continuous disclosure obligations as well as its ongoing obligations under the Listing Rules.

While we note that you have taken your concerns previously to the Australian Securities and Investments Commission (“ASIC”), to the extent that your concerns relate to the governance of the enterprise (and, by implication, the discharge by the directors of their duties under the general law and the Corporations Act
2001) we encourage you to lodge a complaint with ASIC using their online portal, available here:

http://www.asic.gov.au/about-asic/contact-us/how-to-complain/

Thank you again for your online report. We hope this letter has helped clarify matters.

Yours sincerely

Dawn James
Adviser, Listings Compliance ASX