CHM Shareholders (Owners of this Company)
Act Now to Fix Governance!
CHM’s 80% share price drop (Jul 2024–Jul 2025) and 98% since listing have severely impacted investors, while a certain executive’s pay (~$1.04M at CHM 2021–2024, incl. $175,725 cash bonuses; ~$666,209 cash bonuses across three firms, per annual reports) questions accountability. I’ve raised several issues with both ASIC and ASX Listings Compliance. However, ASIC investigates <1% of complaints so we the owners of this Company must act!
Below are potential breaches that are harming us. Despite trial progress (e.g., CORE-NK), governance failures block value.
These are my views, based on public data, not legal findings.
Point 1: Share Register Refusal
Issue: CHM denied a full share register (Mar–May 2025), providing only a partial hard-copy, blocking shareholder coordination.
Evidence: Requests (Mar 10, 25, May 13, 2025), partial register, company correspondence.
Potential Breaches:
Section 173(3): Failure to provide a full copy of the share register.
Section 173(3A) and Corporations Regulation 2C.1.01: Failure to provide the register in electronic form as requested, per regulatory requirements for electronic access.
Section 173(6): Failure to include email addresses, which, per Lawrence v Melbourne Football Club, form part of the register if held by the company.
Section 173(4): Failure to provide a valid reason for refusal.
Section 173(5): Failure to seek a court order within 7 days of refusal.
Section 181: Potential failure to act in good faith in the company’s best interests.
Point 2: Selective Disclosure on LinkedIn
Issue: CHM posted CHM-CDH17 results on LinkedIn (Feb 2025) without ASX disclosure, creating a potential false market.
Evidence: LinkedIn screenshots, company correspondence (26 May 2025), ASX announcement letter (26 May 2025).
Potential Breaches:
ASX Listing Rule 3.1: Failure to disclose price-sensitive information simultaneously to the market via ASX announcement.
ASX Listing Rule 3.1B: Failure to correct a false market by withholding material trial results from the broader market.
Section 674(2): Breach of continuous disclosure obligations by disclosing material information on social media before an ASX announcement.
ASIC Regulatory Guide 170: Prohibition on selective disclosure to a limited audience.
Section 1041H: Misleading or deceptive conduct by creating a false market through an uneven information field.
Section 674(2): Continuous disclosure.
ASX Listing Rule 3.1: Prompt disclosure.
Rule 3.1B, Section 1041H: False market, misleading conduct.
Point 3: Suspicious TradingIssue: Trading on 15 May 2025 (high A$0.009, close A$0.008, raise at A$0.004) raises concerns about selective ADVENT-AML disclosure.
Evidence: Market data (15 May 2025), ASX announcements (15, 16 May 2025), company correspondence.
Potential Breaches:
Section 674(2): Continuous disclosure.
ASX Listing Rule 3.1: Prompt disclosure.
Section 1041H: Misleading conduct.
Point 4: Non-Disclosure of CORE-NK Updates:
Issue: No CORE-NK trial updates (Case Western) since Oct 2024, despite webinar hints (May 2025).
Evidence: ASX announcement (7 Oct 2024), Mar 2025 Quarterly Report, Zoom webinar (22 May 2025).
Potential Breaches:
Section 674(2): Continuous disclosure.
ASX Listing Rule 3.1: Prompt disclosure.
ASX Listing Rule 3.1B, Section 1041H: False market, misleading conduct.
Point 5: Undisclosed Trial Data During Capital Raises:
Issue: Capital raises (Oct 2024, May 2025) coincided with undisclosed CORE-NK data, raising fairness concerns.
Evidence: Company correspondence, ASX announcements (1, 7, 21 Oct 2024; 1 May 2025).
Potential Breaches:
Section 674(2): Continuous disclosure.
ASX Listing Rule 3.1: Prompt disclosure.
As CHM’s owners, we must unite to demand transparency and accountability. Without our action, further dilution and losses will bury us. I’m ready to start a shareholder group and fight for our investment now! All I require is your support.
(20min delay)