I had a nice long chat to an ASIC representative on Friday. Key...

I had a nice long chat to an ASIC representative on Friday.

Key Points:
- The person I spoke to was actively encouraging people with grievances to lodge a complaint
- You will receive confirmation that you complaint has been received, HOWEVER...

- ASIC are not able to confirm whether there is an active investigation into GDN.
- They are not able to say whether they have had other complaints (but I know they that have...)
- They are not able to advise of the status of ANY complaints. You will only hear about it if the company releases an announcement, or if ASIC make a media release.

It is pretty obvious why they need to keep these things confidential - otherwise companies could have their SP affected as a result of spurious allegations. So I now understand why people complain talk about ASIC complaints going no-where. Be that as it may, I encourage all of you that feel wronged to make a complaint.

My only advice is to keep it unemotional, and focus on the facts as you see them. My complaint will be based primarly on the question of whether shareholders were kept informed as per ASIC continuous disclosure obligations. But there are other angles you may choose to take: compliance with regulations re meeting minutes; setting false and misleading expectations re teh options. Your choice...

http://asic.gov.au/asic/asic.nsf/byheadline/Complaining+about+companies+or+people?openDocument#how

Cheers,

Disco