sent email

i have sent another email to WCU this morning after the utter disgust at the down trodden options price and have forwarded the same email to ASIC and will be following up with lodging a formal complaint with ASIC and urge others to do the same.
I have attached the email below

To whom it may concern



After watching the share price of options in WCU fall out of the sky to a today low of .021c from highs of .165c which seems to stem from the lack of any news be it good, bad or indifferent.

This lack of information on a regular basis is, i believe is in breach of the companys code of conduct set out in the corporate governence as seen below in the underlined paragraphs.The lack of responce from the company from emails sent is in my opinion unprofessional, contravines company policy,arogant and down right rude.

I have also forward a copy of this email to asic and will follow up with a full written complaint and will be urging other holders on the hotcopper web site to also take the time to fill out the complaint form.



Eamon mcgreal





The Code of Conduct sets out the principles and standards which the Board, management and employees of the Company are encouraged to strive towards when dealing with each other, shareholders and the broad community. The Company is to comply with all legislative and common law requirements which affect its business. The Company will deal with others in a way that is fair and will not engage in deceptive practices. The Code of Conduct sets out directives for Directors, management and staff relating to conflicts of interests, protection of the Company's assets and confidentiality.
Summary of Policy and Procedure for Selection and (Re)Appointment of Directors
In considering new candidates, the nomination committee (or equivalent) evaluates the range of skills, experience and expertise of the existing Board. In particular, the nomination committee (or equivalent) is to identify the particular skills that will best increase the Board's effectiveness. Consideration is also given to the balance of independent Directors on the Board. Reference is made to the Company's size and operations as they evolve from time to time. Any appointment made by the Board is subject to ratification by shareholders at the next general meeting. All Directors are required to consider the number and nature of their directorships and calls on their time from other commitments. Shareholders shall be informed of the names and details of candidates submitted for election as Directors, in order to enable shareholders to make an informed decision regarding the election.
Summary of Process for Performance Evaluation
The Chair is responsible for evaluation of the Board and, when deemed appropriate, Board committees and individual Directors. The Board is also responsible for evaluating the Managing Director. Other senior executives are evaluated by the Managing Director.
Summary of Policy for Trading in Company Securities
The Board has adopted a policy which prohibits dealing the Company's securities by Directors, officers and employees when those persons possess inside information. The Policy provides that the written acknowledgement of the Chair must be obtained prior to trading.
Summary of Compliance Procedures
The Board has adopted Compliance Procedures to assist it to comply with the Listing Rules disclosure requirements. Under the Compliance Procedures, a responsible officer is appointed who is primarily responsible for ensuring the Company complies with its disclosure obligations. The duties of the responsible officer are set out in the Compliance Procedures. The Compliance Procedures provide guidelines as to the type of information that needs to be disclosed and encourages thorough recording of disclosure decision making. The Compliance Procedures contain information on avoiding a false market, safeguarding confidentiality of corporate information, and information on external communication for the purpose of protecting the Company's price sensitive information. The Compliance Procedures also provide guidance relating to potential disclosure material.
een below.