Here is another Letter sent to the ASX where as I am not a legal...

Here is another Letter sent to the ASX where as I am not a legal professional pure common sense of the reading would suggest that I will not be too far from being right?

Dear Sir
I refer to your reply and your report reference # 00841103 & the three Questions I asked which referred to a possible breach of trading rules. On further reading of your rules I note that you have ABSOLUTE authority over Foreign Exempt Companies . I refer you to your ASX participant application form Part A Section 2 Applicant Agreement “ Agrees to comply in full with any condition imposed on it by any ASX Group Licensee in connection with its admission as a participant, that it will be bound by and comply with the applicable operating rules “ I further quote Procedure 6400 Foreign Trading Participants and other Trading Participants with overseas activity.
(d) “ not engage in overseas activity of a type which would result in the market operator becoming subject to the Jurisdiction of any relevant Government Agency or authority outside Australia without the prior written consent of the Market Operator.” Amendment 15/03/15 20/03/17
Now my reading of this is that the ASX has complete authority to insist that the ASX 90% compulsory acquisition rule be adhered to & that Jin Jang & associated partners including its CURRENT anonymous partner be prevented from voting their shares either direct or by proxy because of massive Conflict Of Interest. Minority shareholders request that you enforce your rights in this matter We on our part will obtain an Independent Valuation So that a fair offer can be obtained on this take over /amalgamation far in advance of the ridiculous LOW BALL offer on the table at present. I speak for over 300 disgruntled Minority Shareholders, the same Group that forced an EGM on NKP previously.

I also ask have you received correspondence from NKP or any of the other overseas parties for permission to go outside of the parameters of the AUSTRALIAN listing rules on takeovers as against a Bermudan sanctioned type amalgamation type takeover, It would appear on my reading of clause (d) that you should have received a request for permission to do this. If this has not been done I earnestly ask that you refuse AS IS YOUR RIGHT such application in the interest of Minority shareholders.

I really believe it is about time that the ASX take a stand against Foreign Exempt Companies running rings around them with blatantly doing as they wish at the disadvantage of Australian Minority Shareholders.

Yours Faithfully
Brian Thompson
B & J Thompson Holdings Pty Ltd