you hit the nail on the head
ASX needs to comply with section 792A(a) of the Corporations Act 2001; i.e. A market licensee must, to the extent that it is reasonably practicable to do so, do all things necessary to ensure that the market is a fair, orderly and transparent market; and
Fair; meaning ‘treating equally without favouritism or discrimination’. In contrast ASX relied on market rumours to publically humiliate officers of ISX (SOR’s), bullied them into revealing confidential information and continues the suspension till date WHEN other listed companies faced bigger and more serious allegations of misconduct, ASIC reviews and court cases.
Orderly: meaning ‘Was it neatly and methodically arranged’. In contrast ASX spitballed, relied on handwritten notes and took into consideration irrelevant information such as ‘Short report’ & biased AFR articles. If this is indeed true, they did not take the matter of suspension very lightly thereby seriously putting to risk the reputation of he company & its officers and deprived shareholding of their holdings.
Transparent: meaning ‘easy to perceive or detect’. In contract ASX actions were riddled with inaccuracies (SOR’s), inconsistencies (procedure to suspend & relist) and where one might consider a ‘fishing expedition’.
ASX is my view is failed to comply with section 792A(a).
- Forums
- ASX - By Stock
- ISX vs ASX
you hit the nail on the headASX needs to comply with section...
-
-
- There are more pages in this discussion • 807 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add SP1 (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
1CG
ONE CLICK GROUP LIMITED
Mark Waller, MD
Mark Waller
MD
Previous Video
Next Video
SPONSORED BY The Market Online