ELM interaction with ASX compared, page-5

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bgtaylo

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26/05/21

08:38

Post #: 53416121
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Originally posted by gregbris: ↑

ELM purchased PCSIL in March 2020 therefore
ELM were in increased communication with the Central Bank of Ireland (CBI) - a regulator around trying to get compliance for ELM card scheme since December 2020. with (it seems) none of those letters actually asked for by ASX in their 'investigations'.
ELM said that the letters covered a 'range of regulatory and compliance issues including governance and internal controls'. the goal of the communications was to assist ELM in 'ensuring compliance'.
these communications were deemed by ELM as not having a 'material effect on price or value of ELM's securities. Ann 25/5/2021.

As far as I can tell - ASX has not asked for any of theses communications.
How can ELM get an unexpected letter/ phone call from the regulator (CBI) on the 13th of May around lack of compliance ('raising significant regulatory concerns' ) when there was increased communications from the regulator from mid December 2020 mentioned in the same Ann?

Yet it seems as though their CEO sold over $16 million (from a news article easily found) in late April 2021.
At least one news article mentioned to be outside of the trading window for the shares.
Some Fund managers dropped the share in February 2021 was also mentioned - AFR 19/5/2021 'Smart Money Sold EML Payments in February'. (coincidence? )

AFR 18/5/2021 'UBS opens window for ELM Payments CEO' - for the CEO selling story.

ELM trading halt - under a week.

ISX trading halt - a little over that.
ISX documentary requirements, a little more than 5 pages.

ASX are you sure that's fair and balanced?

ASX are you doing your 'regulatory' duties ?

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I didn’t know much about the EML story, but now I do. Insiders selling too , never good.

Last edited by bgtaylo: 26/05/21

ISX Price at posting: $1.07 Sentiment: Hold Disclosure: Held
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ELM interaction with ASX compared, page-5

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