Let's call this section: Barking up the wrong tree... again
In Pages 80-81, ISX addresses how ASX took into account irrelevant considerations to suspend ISX and discusses ASIC, Dean Paatsch from Ownership Matters and Shaun Bettman (I wonder who this is?). It seems some at ASX already knew that Dean Paatsch and OM were unreliable.
(Knowledge of this came via discovery of communication between ASX and ASIC)
"The irrelevant considerations were: (a) ... (b) speculation in the media, premised on the erroneous report published by Ownership Matters Pty Ltd (ACN 152 996 739); and/or
(c) the report published on 10 September 2019 by Ownership Matters Pty Ltd which was sent that day by Dean Paatsch of Ownership Matters Pty Ltd to David Barnett of ASX (ASX.002.002.4492 and ASX.002.002.4494); and/or
(d) a complaint made on 20 September 2019 by Shaun Bettman who represented himself as being “a fund manager” who specialises “in analysing companies” (ASX.002.003.5414 and ASX.002.003.5416); and/or
(e) a spreadsheet sent on 25 September 2019 by Dean Paatsch of Ownership Matters Pty Ltd to Kevin Lewis of ASX (ASX.002.005.2472 and ASX.002.005.2473).
(iii) failed to take into account relevant considerations being that:
(A) by 13 September 2019 James Gerraty of ASX had looked at the accounts of ISX and formed the view that they “check out” (ASX.002.004.3641);
(B) on 13 September 2019 Tom Veidners told James Gerraty that he approaches reports prepared by Ownership Matters Pty Ltd “with a degree of scepticism”;
PARTICULARS The statement was oral made during a telephone call between Dean Litis of ASX and Tom Veidners of ASIC, the substance of which is recorded in an email sent at 11:43am on 13 September 2019 by Dean Litnis to David Barnett (copied to Kevin Lewis, James Gerraty and Clare Porta of ASX) discovered by ASX (ASX.003.002.1348).
(C) on 17 September 2019 Dean Litis was of the view that Dean Paatsch of Ownership Matters Pty Ltd was “barking up the wrong tree…again”
ISX Price at posting:
$1.07 Sentiment: Hold Disclosure: Held
