I haven't posted in a while as I'm just relieved ISX can now carry on its business in Europe, free from this drama.
This is an interesting twist.
ASX is saying they didn't have sufficient justification to suspend ISX prior to ASIC providing some confidential information about ISX. They are saying it was ASIC that raised the idea to suspend ISX and they were just trying to be helpful.
That "confidential information" was apparently provided on 1 October but we don't know what it is. With regards to the timing, was it during the meeting of 1 October or after the meeting but before the meeting on 2 October? Because at the close of the 1 October meeting, ASX still didn't have sufficient justification to suspend ISX. KL told ASIC "ASX would determine its next steps when ASIC advises of its view".
Yet in the market release on 11 November, ASX said it was confident about its decision and didn't need any direction from ASIC. The SOR which states the reasons why ASX suspended ISX doesn't include any information that wasn't known to ASX at the start of the meeting on 1 October.
What then was this confidential information that ASX relied upon to suspend ISX, which ASX said the market needed to be fully informed about, yet to this day the market is fully uninformed about?
ISX Price at posting:
$1.07 Sentiment: Buy Disclosure: Held
