When you look at some examples of other ASX listed companies it...

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Goldphish

874 Posts.

252

10/12/21

17:20

Post #: 58221363
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Originally posted by vjojojose1: ↑

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).

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When you look at some examples of other ASX listed companies it does look very uneven indeed. There had been a lot of high profile news articles about money laundering at Crown Resorts for example, I think it received even more press then ISX despite the best efforts of Joe Aston.

So why didn't the ASX suspend CWN and start probing their dodgy underworld links years ago when a group of their employees were arrested in China for example? To be honest though, it's obvious isn't it that the ASX wouldn't dare to suspend a company like Crown, which is a "big fish". It would take the ASX management too far out of their comfort zone, and they would be far too worried about legal action from a company like CWN, even though alarm bells were ringing everywhere.

ISX Price at posting: $1.07 Sentiment: Buy Disclosure: Held
29 Upvote

0 Great analysis

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