News: BID Bidenergy Seeks Trading Halt, page-24

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Titanium8

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29/08/19

21:38

Post #: 40229770
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Originally posted by funkman ↑

1. read up about the derivative action case - you must be a shareholder to initiate this type of action.
2. "...In a message to Mr Baillieu's lawyer, Mr Dyer is believed to have made a list of demands, including that Mr Baillieu sell his remaining shares in BidEnergy and agree to not purchase more.He is also believed to have requested that Mr Baillieu consider dropping a legal case against BidEnergy and its directors, or potentially face criminal prosecution. ..." - from The Age 25.08.2019

Now further to this....it seems he may have sold some shares (not all - see above) as he is attempting to recover losses by the sale of his shares. Perhaps he means less profit as I highly doubt he bought at the top! So he must have kept some to initiate the action - but how many I am not sure. Regardless of the validity of any claims which is highly improbable anyway, it would be hard for him to claim he lost even more profits when in fact he already made huge profits. The only way I see it is it just spite and wouldn't be surprised to see it thrown out and costs awarded against him.

@BSCLF good point

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Can you please help with this question?

Does the company continue trading as per normal on the asx whilst the court case is heard or does it go into suspension until the court case concludes?

Thanks in advance.

BID Price at posting: 68.5¢ Sentiment: None Disclosure: Not Held
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News: BID Bidenergy Seeks Trading Halt, page-24

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Lake Resources implies news article on job cuts made up; non-core sales "not material" and no rule 15.7 breach

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