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Joannie

11,620 Posts.

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06/03/23

02:36

Post #: 66615318
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Originally posted by phx: ↑

I'm sorry, but what a load of twoddle!
There's a real world out there.
ASIC couldn't give a crap.
They can't even land the big guys with solid evidence.
Yes, you may have sent in a report.
Nothing will happen.

Yep, the companies code says a lot of things and it makes people wary of their behaviour.
The threat of prosecution stops the worst of the behaviour.
ASIC's record of prosecuting people is woeful.

ASIC will not do anything without solid proof, and then you will be waiting years.
It all comes down to intent, and how do you prove intent.
This is why so few cases are prosecuted.
If anything happens it's a slap on the wrist, at best.
The BOD will have expert advice to support anything they do.
They are not stupid enough not to.
Here's their defense to anything that ASIC might possibly ask them;
"we believed we were acting in the best interests of the shareholders".
Proof that that weren't is back on ASIC.

The most that will happen is that ASIC will send a letter to the BOD asking for an explanation.
NWE will pay thousands, of our money, for a gaggle of lawyers to send a response.
Just like ASX sends please explain for a speeding ticket.
The result will be the same.

Look at Musk - what happened. (I know its the US)
A fine that was not even loose change falling out of his back pocket.
Look at Crown and what has ASIC done - where are the charges?

Cynical - yes. Reality - yes.
ASIC are not going to be some white knight that comes riding in to save the poor little NWE shareholder.

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I think you may be very surprised, this is a pretty unique case.

NWE Price at posting: 6.7¢ Sentiment: Buy Disclosure: Held
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Offer, page-45

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