I belive that it is absolutely essential for ASX to immediately put Brockman Resources (BRM) into a trading halt. It is disgusting to see the manipulation of a potentially great Australian iron ore company by a frivolous full script takeover offer by a Hong Kong limousine company, in conjunction with some non-Australian friends. Only 0.12% of Australian shareholders have opted to accept this ridiculous offer. It would appear only 9 overseas shareholders out of total of approximately 2,600 shareholders have enabled Wah Nam to increase its shareholding from 28% to over 45% in a short time, with what appears to be manipulated share trading through their associates. The shares are at this moment at $4.06 and dropping like a stone. I believe Brockman are talking to ASIC . However, in my opinion, it is incumbent on the ASX to immediately place a trading halt on the company until it can be ascertained whether or not some fraudulent trading practices have been carried out by Wah Nam or Wah Nam related associates.
Yours faithfully
BRM Price at posting:
$4.10 Sentiment: Hold Disclosure: Held
