Dear Shareholders and Hot Coppers, On 28 March 2018 I sent the...

Dear Shareholders and Hot Coppers,

On 28 March 2018 I sent the attached letter with 100 (!) questions to Mr Fai Peng Chen in his capacity of Novarise's independent director.
ASIC and ASX recipients are struck through as I did not send the letter to them and my name is omitted for obvious reasons of privacy.
Novarise's announcements to the ASX can be downloaded at http://www.novarise.com.au/announcements.php

Notwithstanding my request Mr Chen did not respond to any of the questions but advised that he had referred the letter to Novarise.

On 1 August 2018 I wrote to Mr Chen via email:
I am writing to advise that I intend to lodge a formal complaint with both ASIC and ASX about Novarise's circumstances and its potential breaches of the Corporations Act and ASX Listing Rules respectively.
In doing so I shall provide ASIC and ASX with my letter to you of 28 March 2018.
I also intend to make public the above mentioned letter for institutions and Australians at large to be aware of the instance where a foreign company with no assets in Australia and dubious activities overseas is allowed to raise funds locally and list on the ASX only to be suspended for 3 years for not lodging its financial statements and then be delisted by ASX with no ensuing liabilities towards its Australian shareholders.
I am afraid that your conduct as Novarise's only independent director living in Australia may come under some degree of scrutiny.
At the same time I reserve my rights with regard to proceeding with legal action against Novarise and/or any of its directors.

On the same day Mr Chen replied via email:
Mr Su advised us that he and his majority shareholders intend to take the company private by the second half of this year.   
   The board has activated the legal process and will advise all the shareholders shortly.

Needless to say I am not holding my breath nor I would expect anyone to do so.

ASIC has hitherto taken no action on Novarise and its directors for being in breach of the Corporations Act on at least one count, namely at least two of the directors must live in Australia (public company, https://asic.gov.au/for-business/re...-to-register-a-company/minimum-officeholders/) as Mr Chen has been the only (independent) director living in Australia since 18 March 2015.

I hereby exhort to make as widely public as possible the circumstances concerning Novarise and the conduct of its directors.