Where the hell is ASIC during all of this?
If these communications are in fact a legitimate offer then even the latest version shown above raises serious concerns that the regulator should be all over.
Firstly in the one communication as shown is
@Deepp's post described the offer as a "Tender", A Takeover" and previously as a "Buyback". Something very fishy is going on here.
We all know that only AVZ can perform a buyback of AVZ shares. A buyback by definition is the issuer buying back their own stock so unless AVZ were behind this then using this description would be both false and misleading.
Even this latest communication uses the wording "acceptances of the takeover offer" thereby suggesting that this is in fact a takeover. If this is an attempt at a takeover then the company doing so appears to be in breach of takeover legislation for reasons previously described in a earlier post last week. A takeover offer much be made on a equal basis to all shareholders which is not the case here.
Whoever is behind these communications appears to be either incompetent, ignorant of Australians law or just not that worried about enforcement.
I seriously hope that somebody has referred all versions of these communications to ASIC for investigation. We have a regulator for a reason. Time to wake them up I suggest.
