SP1 0.00% $1.07 southern cross payments ltd

I think we are now at a point where ASIC's investigations need...

  1. 1,634 Posts.
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    I think we are now at a point where ASIC's investigations need to conclude to put this issue to bed, with the outcome either finding the directors guilty or not guilty. As long as it lingers, inevitably there will be reputation risk which will affect performance and earnings as major clients and partners may not want to associate with the company. It's even going to affect employees who wouldn't be able to discharge their duties well in light of all the circumstances.

    I for one am relieved it's all about the circumstances around the performance shares (which most shareholders knew of already) and nothing to do with cryptocurrency ICOs, terrorism financing, money laundering or other major financial fraud.

    This company has a lot of growth ahead, and the quickest way I see it steering itself back to progress is for directors at the centre of this dispute to step aside/step down while ASIC's investigation is allowed to conclude. Let's bear in mind stepping down in itself is NOT an admission of guilt. It is a hard ask that comes with major challenges, but do we have any other way forward? If JK for instance steps down, how does this impact the future growth of the company considering he has brought the company this far? What happens if ASIC's investigation comes back finding the directors not guilty?

    What are people's thoughts on this? Let's have a reasonable discussion and constructive criticisms on how to move the company forward please, not comments like "this company is going to end up being delisted" which offer no value to this discussion. Let's remember this company is more than any individuals and belongs to all shareholders, and each shareholder is entitled to their valued opinion.

 
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