I invested heavily into this company in 2016 (that's the risk I took and I have to own that) and as much as I want to believe that the BoD is acting in the sole interests of the survival of the company and my (and others) shareholding, my instinct doesn’t quite reflect this same hope.
I don't think for a moment that the ASX is without fault in this soap-opera charade, but based on the publicity of ISX' actions and responses (I have nothing else to go on), it's appears ISX is at times intentionally placing themselves in the firing line and baiting the ASX. Again, I may well be wrong, but it’s certainly how I interpret it.
That said, I am employed with a regulatory authority and if I conducted an investigation like the ASX (publicly) has, I'd face internal consequences. The scatter gun approach of questions from the ASX in the past many months is indicative that they’re largely on a broad fishing expedition and fail to fully understand the scope of their investigation. My question now is whether the ASX is relying on ISX failing to ‘comply’ with the listing rules rather than findings from a proper investigation?
There is certainly the appearance that the ASX is denying natural justice, or a duty to act fairly, in this matter.
Hopefully, all will be revealed in, as Sir Humphrey Appleby fondly says, “the fullness of time”.
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