I have to wonder whether the ASX and ASIC following the same ‘blank page’ rule book as their counterparts in the US, the CFTC and SEC?
Under your watch, you continue to allow listed companies to screw over investors with no penalty or warnings to company directors. Yes, I get that the markets are a casino. Yes, I get that the cards are marked and the tables braked. However, it would be a pleasant change (and surprising) for you to show some small indication that you have the interests of investors at heart................. be it probably small and relatively insignificant.
I refer in particular to the company SAS, which is a ‘smoke and mirrors” company out of a dubious Perth stable, expert at creating loss leading companies with common directorships that you would be well aware of!
The recent SAS 2800:1 share consolidation must have smashed all previous ASX records. It certainly smashed the shareholders who have watched this Aussie/Israeli JV farce roll on for years! Please do everyone a favour and delist this company before it creates more investors financial carnage.
How these fraudulent activities are allowed to continue without full investigation is beyond me and the vast majority of broken shareholders in this company.
At a minimum, SAS should be delisted immediately, pending a full investigation of its past and current activities and associated dubious bookkeeping. An investigation into the dealings with past and current office bearers and their associations with other ASX listed companies might also lead to mitigating future losses for unaware investors.
Regards,
Peter King (previous shareholder)
(Their automated reply)
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