Suspend a stock in order to see who sold shares, that is plain...

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hilldweller

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12/08/20

08:09

Post #: 46470953
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Originally posted by jkim78: ↑

When they said: "suspended for SP volatility", I believe they really meant: "suspended because we think someone sold perf shares". When they asked: "why is the SP fluctuating?", I believe they really meant: "tell us whose perf shares are being traded". They raised a couple of "speeding tickets" over a course of a couple of weeks, and then suspended - it was not 15 min notice if we carefully disseminate what we can in hindsight.

Since they hadn't started an investigation, they couldn't say outright "we suspect perf shares are being sold". However, looking through the comms in hind sight, I think the message is pretty clear. Even with the escrow deal, they requested this same info - "who sold what at what consideration?" - probably the only time they were actually upfront about what this suspension is all about?

There's no point asking about other stocks, and why they're not being suspended, unless they are in the same boat irt perf shares - i.e. large amount issued with questions/concerns around validity.

If we want to trade, I think it's clear what must be done: unconditional escrow with full disclosure until ASIC conclude their investigation and give the green/red light. Perhaps we could have been trading under "standard" escrow terms if they saw eye to eye last November before the mud slinging started...

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Suspend a stock in order to see who sold shares, that is plain stupidity and if true way over the top action by the ASX and they should have to pay even more in compensation.

ISX Price at posting: $1.07 Sentiment: Hold Disclosure: Held
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Suspend a stock in order to see who sold shares, that is plain...

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