I too am quietly confident that they will be over-ruled on this.
I strongly doubt any court in the western world presiding over this potential arm wrestle would overlook the very basis of a companys origins. Namely that, [the original NKWE] decided to list on the ASX in order to raise capital (principally from Australians) in exchange for shares in a massive platinum resource.
The subsequent slinking off hand in hand with it's new Chinese overlords to little ol' Bermuda to do the dirty on those very founding shareholders by pulling a stunt like this will be viewed in poor moral and legal light.
However, in the interim, my great fear, (which NKWE's new lords seek to instil), with alleged support of "independent directors", (more about that in another forum), is that shares vital to our 26+% may be shaken free....and transferred to the wrong side. Hopefully not, but we all know the games facilitated by the ASX!
Now, on that note, the concerns raised by some at the likelihood or otherwise of the ASX showing accountability to shareholders of one of it's listed companies, and coming out in enforcement mode is most valid.
To that end, I believe it is a discussion X and members of the group of dissienting shareholders need to have sooner than later; having our legal representative draft and serve a shot across ASX's bows for dereliction of duty, for if they choose not to act on our request they are clearly in breach, and negligent in their duties under those very rules of listing outlined by our colleagues above.
Australians in all or many things, have been too easy going for far too long! Time we set the agenda.
Imagine an American company going; "hey, fcuk those shareholders, lets go get a ruling in Cuba that lets us shaft them regally"? And even if that doesn't work, while we're playing with them, (setting the agenda), we'll fray their nerves, and divide and conquer that way.
Nah, that's the sort of attitude that has seen the rise of Trump....know your rights and breath fire.
Disclosure: I write on this particular matter of domicile vs listing jurisdiction, as I have a year or so ago, with confidence in my own legal background, not from a field you'd expect, but nonetheless, well versed and practised, and with a far, far greater breadth of life experience than our so called 'independents', for whom sadly I hold a measure of distaste, nay contempt. For in my opinion, (and I put it to you in considering yours), their part in recommending this attempt to strip a shareholder's inalienable right to an appropriate share in a mega platinum resource is a reprehensible and contemptible act.
NKP Price at posting:
9.3¢ Sentiment: Hold Disclosure: Held
