It applies to anyone who bought shares after 17 May 2021, not before. Captures 125m of CR in July and December, plus all those going into ASX300/200, plus EFT funds like REMIX, possibly Cantor Fitzgerald
Registration by 31 March 23, this will take years to even get a hearing
AVZ need the win on their assertions 100% before this gets anywhere
Key question for me is who has pushed for this?
I reckon it would possibly be the Exchange Traded Funds and some of the big players who came into the cap raise
Looking for an avenue to recoup what might be potential losses
Farken!!
EDIT: Sorry also the index funds who we know have been trapped in this and potentially have some poor outcomes looming
Im still keeping an eye on things mate. I said my bit and a lot didnt agree with what i had to say, and ive had nothing more to add since.
It doesnt surprise me that this action has been commenced. Ive had no involvement in establishing it .... but the basis of the action seems in line with my issues surrounding poor Corporate Governance and non disclosure of material information.
The ETF Funds and Index Funds who have also been locked in this situation with the rest of us could be the ones behind it...but thats just a guess.
Hopefully it spurs the company into action and gets us trading again.
Last weeks announcement in response to AFR article could also have been in expectation of this action looming?
If a court finds AVZ in breach of ASX and ASIC disclosure and misleading conduct laws, then that has further implications for Directors and Company Secretary who traded shares during that period whilst in possession of information not released to the market.
Also, has implications for the Resolutions at the 2021 AGM to grant generous benefits for remuneration, termination benefits and performance rights, as if its found they were voted on whilst a court finds shareholders were misled and not fully informed in accordance with the law then i think those resolutions would have to be annulled??
Are the fucken idiots who are pushing for this court case, Boatman/Tommy/Klaus, or idiots who lost the plot completely by smoking brain destroying mushrooms, because its getting too hot for them in the kitchen!! Ffs!!
Anyone even whispering he wants class action should become newspaper boy with Tommy, but please stay the fuck away from here, fuckin Morons!
The One man show yesterday on the crapper highly likely has something to do with this.
Fucken brainless fools, this is one way to lose the lot!
Are the fucken idiots who are pushing for this court case, Boatman/Tommy/Klaus, or idiots who lost the plot completely by smoking brain destroying mushrooms, because its getting too hot for them in the kitchen!! Ffs!!
Anyone even whispering he wants class action should become newspaper boy with Tommy, but please stay the fuck away from here, fuckin Morons!
The One man show yesterday on the crapper highly likely has something to do with this.
Fucken brainless fools, this is one way to lose the lot!
I’m no expert on class actions but it’s a coincidence that I recently got an email to participate in the class action against A2M for a similar complaint. The legal team running it must be desperate to get shareholders on board and no doubt these morons will be trying to do the same.
A couple of things I know, complaining to ASIC doesn’t get far…. They are underfunded and rely on the ASX to do the job…. Are the ASX negligent then in allowing what’s happened, I doubt it and doubt they would take action…. Again I’m no expert.
Lawyers in these cases take a high percentage of any claim and I doubt the claimants get what they think they will get
Perhaps those responsible are boatboy and the short sellers but do you fellas think that the institutional investors that want this company to succeed would join in…. I personally doubt it, and without looking at the capital raises, I’m pretty sure the price was less than the current price
Hope this makes sense because I’m sick of thinking about all this bullshit and desperately in need of some magic mushrooms to get my brain thinking again…. Farken
