I am familiar with ASIC and the ASX and their avoidance strategies. Right now I am still waiting for the ASIC reference to my Report of Misconduct.
I had dealings with ASIC in challenging the legality of the attempted "Skip Capital" takeover. Had I taken your advice to give in to the "power"of ASIC, at that time, perhaps the takeover would have succeeded and Farquhar/Jackson would have, (for their personal benefit), secured the $610 million taxpayer funded concessional loan from NAIF.
Contrary to the "spin", the bid was not withdrawn because of the egress of water into the MAT. CEO Francis alluded to this in the webinar on Monday, (not yet on the Genex website), but the long and short of it is that Skip Capital finished at 19.99% of Genex shares. That happened, not because of ASIC but despite of ASIC.
I can assure you that the Kidston/Skip Capital plan ended only because of a great deal of "bombarding"; over many months, Including to the ministers responsible for NAIF, (King and Gallagher), and the Attorney General.
As I said on the thread re the last Quarterly Activities Report:- "Mr Chris Collins, (NAIF, Cairns), and Mr Peter Witham, (ASIC, Brisbane) still have not responded to my emails relating to my Report of Misconduct and request that ASIC look to having the Takeovers Panel review the takeover ."
ASIC's Mr Witham has said in an email to me, "your report will be assessed in accordance with ASIC’s standard policies and procedures."
I have requested the link to the ASIC "standard policies and procedures" which apply in these circumstances.
Expand
(20min delay)