ELM interaction with ASX compared, page-6

First 6 Last

Share
Profile

Follow
retiredyoung

8,751 Posts.

782

26/05/21

08:49

Post #: 53416380
Share

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 ?

Expand

Surely EML should be suspended until the ASX and ASIC have finished an investigation and the result of the ensuing court case is known.

ISX Price at posting: $1.07 Sentiment: None Disclosure: Held
28 Upvote

1 Great analysis

Reply

Top Stories

ASX Market Close: Iron ore prices stay strong; US CPI data due Tues night

ASN

Last hurdle for Anson's Green River plant as Korean partner looks over brine

USL

'Defining moment' for Unico as miner expands Joaquin's mineralised footprint

Listen: HotCopper Wire Podcast 017 – RBA holds the toppings

AII

Inside the depths of Panasqueira: A legacy carved in rock

First 6 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

ELM interaction with ASX compared, page-6

Top Stories

ASX Market Close: Iron ore prices stay strong; US CPI data due Tues night

Last hurdle for Anson's Green River plant as Korean partner looks over brine

'Defining moment' for Unico as miner expands Joaquin's mineralised footprint

Listen: HotCopper Wire Podcast 017 – RBA holds the toppings

Inside the depths of Panasqueira: A legacy carved in rock

Featured News