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19:33
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Originally posted by Noor444
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Thank you very much Alex for this very clear and honest analysis of the situation. I agree and identify myself one million percent with every single thing you said. We SHs always assume that this is the way things should be. But I have been thinking that we could put together a well substantiated argument together to ASIC (everybody doing and submitting their own separate complaints) and even, in parallel, get legal advice whether the company has breached its duty of care, led investors astray, etc (this should be more successful if done as a group but I cannot envisage how it could be set up). So, maybe we stick to ASIC for the moment. But this (private lawyer route) does not seem to have been a route considered by investors anywhere on the ASX. I am sure if ASIC gets a number of complaints from different investors, it will feel bound to investigate. I am not saying that Peter Harold or the board have acted in an unethical way. I am not saying they did not. I am saying that ASIC needs to be asked to investigate and we also go through the private lawyer route. How can we go from an almost cast in iron affirmation in June that FID is happening incessantly to a situation like this? What are your thoughts on this? What do others think? I think we need real answers. The CEO will say things are happening outside their control. How much longer can mum and dad investors accept such behaviour from people they entrust with their money? Investors wealth has decreased substantially whilst CEO, board and management team wealth has increased. Guys, please let me know your thoughts. For me, I think a number of complaints from different SHs to ASIC should start the ball rolling. Thank you all for your suggestions / comments.
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…mate ASIC should be looking at the timing of that latest announcement…conveniently released to market only after allowing plenty of time for the ‘professional investors’ of that latest placement to exit their position with a healthy profit while also ensuring management’s opulent lifestyle is maintained into the new year…
(20min delay)