Join the 'broken record' club,luvlife.Judging by the buy side they aim to push this down to .055-.054cps.That such a blatant example of price manipulation and fixing can happen without any action by either the ASX or ASIC is beyond belief.But such is the power these entities wield over those responsible for the proper governance of the Nation and its economy. One has to ask 'what is it going to take to get remedial action'?
For those of you who hope soon to log on to HRZ and find the share price reacting to normal market forces,I feel you may be disappointed.These people are not going anywhere until some thing happens to send them packing.They will continue to stifle the share price until they have their fill and virtual control via a hefty holding under various ids and Board positions.
One strategy they could follow, is to force capitulation of retail shareholders by suppressing the share price for long enough for some to question the viability of holding the shares.And to take a loss or small profit and move on to a section of the market where they don't face the same activity.
Understandable and a logical reaction.
Another one would be to keep the share price well below what an unfettered market would determine,then, having gained control, organise a take over offer sufficiently above the suppressed price, for retail shareholders to bow to the inevitable and take the money and run.
This was the strategy used with VLA.
To counter these tactics we need to follow the lead set by the MMA activists and force disclosure of beneficial owners of nominee shares. We are fortunate in that at the moment, we have a representative Board. I would urge them to request the disclosure of those hiding behind nominee companies under section 672A of the Corporations Act,2001[Cmwlth]. Otherwise, their positions will be at risk come the next Board elections.
All the above is my opinion only and i pray that I'm proven wrong.
db
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