The good thing about this potential ASIC inquiry is that it will serve notice to the company and major shareholders that the regulator is watching and that there would be likely more costly penalties for any untoward behaviour in future.
IMO if instos traded before the CR but with the knowledge of the imminant 75c CR that this would be insider trading and may not be the fault of Lynas or its CR agent. I guess ASIC will investigate who had foreknowledge of the CR and who traded in the narrow time frame between trading halts.
Anyway, those who wanted the CR shares at 75c can/could have bought LYC away below the CR price.
Just wait now and see the pump comming close to the CR deadline and keep in mind that market manipulation can work either way.
With kind regards Moorookamick
LYC Price at posting:
66.0¢ Sentiment: Buy Disclosure: Held
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