Yes you are right CPG. The trading Halt was a very very bad decision, suspension granted even worse. It has led to hurting negotiations and damaging the integrity of the company and our market.
Shareholders arent being protected, the value of the company is still being eroded every minute its shares dont trade, irrespective of the market movements.
As i stated yesterday refinancing is not a reason to suspend. Thats a normal course of business. Allow people to speculate....The ASX are a joke in agreeing to it as it allowed the management to use the ASX and shareholders to be used fodder in blackmail with the syndicate, undermined its own ASX charter. (But ASIC and ASX have failed this whole crisis in my opinion...for massive inaction and then performing the wrong actions like agreeing to the suspension.)
Essentially, All listed ASX companies can now request suspension on a whim and could at any time. Adds unnecessary risk of the market.
Who polices the ASX to see it adheres to its own charter...no one.
The fabric of our Australian sharemarket is breaking down. It is no longer reliable for investors. Local and Off shore investors will be discouraged in investing here as your shares can be suspended for any reason the company feels and may never come back.
If you have any education in finance you can see its a disgrace.
Add to My Watchlist
What is My Watchlist?