SP1 (ASX) ISX off-topic thread

Originally posted by Chet69: ↑

sorry I made an error yes it was the ASX, I hope you can forgive a typo?

had the management not sort to reward themselves with performance shares in the way they did there would be no question of integrity.

I'm not going to comment on the role media played in this, as the Australian media is not the fourth estate seeking truth. but if there wasn't any issues related the conduct of management there would be very little fuel for media attacks.

if there was not any concerns related to conduct of management, there would little or no need for the regulator to seek any action.

this is no a paradox by any stretch, the management did "something", that "something" did not agree with the exchange, and that "something" seems to have raised concerns by the regulator. therefore management should held accountable for whatever that "something" is, as none of it occurred in a vacuum.

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Yeah, that's really something, dude...

What is really something is that you discard so lightly the role that the media played (after the issue of the shorter's report).

Fact is that the ASX did not have any problem at the time of the OTIS takeover that the performance shares were based on revenue (i.e. any type thereof).

Fact is that the ASX had no problem with the shares being issued (or how the revenue was derived) at the time they were issued.

Fact is that the ASX suddenly had a problem with the shares having been issued (and how the revenue was achieved) a year and a half or so earlier, after a shorter's report was produced 'for a single person' (as it says in the footnote/disclaimer) and distributed to the 9EC media, among others.

Fact is that the reporting by the media (and the shorter's report itself) induced volatility. This volatility was then stated as a reason for suspension. 9EC then produced a number of articles slandering JK (subsequently settled favourably to JK and apologised for), which were reflecting negatively on ISX.

The media played a major role, like it or not. Why else do you think they settled the libel suit?

In my opinion, we would not be in the current situation had it not been for the OM report and the barrage of negative articles in the 9EC media.