I’ve lost less on Magnis than I spent on dinner on Saturday night.
Thats not the point, a lot of good people have lost their life savings because ‘if it’s on the ASX it must be true’ and I won’t stand by and do nothing.
Zoom Out and look at the bigger picture.
This has nothing to do with money or how much I’ve lost, this is about right and wrong!
Magnis is a prime example of a broken ASX and I’m using it as an example to jam down the throats of those in power to understand that…unless we have proper corporate governance and oversight of our listed companies, people (like me) will lose faith and move their money to offshore bourses, like the S&P.
What does that do for the future of Australia?
If Magnis are not held to account, welcome to the Wild West and guess what, Trillions of dollars will leave our economy.
How can an Australian company attract international investors when these cowboys can blatantly STEAL shareholder money?
This is not about Magnis, this about the systemic issues in our exchange and the lack of oversight.
If Magnis are not prosecuted, how the F can we attract investors and why would UHNW invest here?
MNS Price at posting:
4.2¢ Sentiment: Sell Disclosure: Held
(20min delay)