Couple of other pertinent excerpts that might cover it off, even as non sensitive.
As the name suggests, a ‘ramping announcement’ is made with a view to ‘ramping up’ the price of securities and can take a variety of forms. Examples include announcements that contain no new material information or substance but are issued under the guise of ‘business updates’ or on the back of strong market sentiment in a sector. A quick series of announcements intended to pique investor interest but which aren’t particularly material can also be ‘ramping announcements’.
ASX has previously observed instances of ‘ramping announcements’ being made just prior to or after a capital raising, presumably with the intent of boosting the raising price or the post raise trading price or following the appointment of advisors where they are remunerated in securities.
One thing that shareholders might want to consider, with all these ramping "guidelines" by the ASX, is when they came into affect and why..
The use of ‘ramping announcements’ has been on ASX’s radar for some time now. Listed companies should carefully consider the content of and language used…
hallandwilcox.com.au
"The use of ‘ramping announcements’ has been on ASX’s radar for some time now. Listed companies should carefully consider the content of and language used in market announcements, following ASX’s latest update to Guidance Note 8, which came into effect on 5 June 2021"
Hmmm the timing of the changes seem to ring a bell, with something else that was happening at the time..
Wasn't there some upstart company, with close to zero revenue, that was close to becoming a "Unicorn" (One Billion Dollar market cap) Company?
Story goes (I say story, so I don't need to back it up, but it happened, as was relayed by FactFinder, presumably by way of information from Tony Dawe, at the time)..
That BrainChip management (this was well before Sean) met with ASX execs and basically asked..
"So what do you want us to do? Please tell us where the boundaries are, of exactly what we can and cannot say or do"
The ASX execs basically replied with.
"We're not going to tell you "exactly", but if you do, do something wrong in our eyes, we will come down on you, like a tonne of bricks".
In spite of all this and no "fault" of BRN's, the share price continued to strengthen and then, with a comment from Mercedes as a catalyst, we went on to become one of the Top 200 ASX listed companies and all, with close to zero revenue.
For the first 2 or 3 months, the ASX, wouldn't even "acknowledge" us, in the ASX200 Top 5 movers (stating some kind of "system error"..).
I'll spell it out plainly..
The ASX (as an Entity) HATE us.
HHHATE US.
Maybe they laid some side bets against us, along the way, that went sour, who knows?..
What? People don't think, that those running, what is basically a rigged Casino, don't lay some "rigged" bets down as well??..
Honesty and Integrity, aren't any of Humanity's standout, or prevalent qualities, especially where Big Money is concerned, or is to be made.
The larger the Organisation, the bigger and deeper the rot and the harder it is to cut out.
(okay, that's my everything is corrupt beef for today
).
The thing is, that the Company basically needs to "tip toe" around, anything to do with the ASX (as they are, in part at least, the reason why the rules were changed).
That's on top, of the Company wanting to portray the right "culture" for Future entry into the NASDAQ, the right image, for the type of Companies we're dealing with and the way "US Companies" go about business (this is more so, since Sean's tenure).
And would anyone here, "really" be happy, if they threw as an ASX announcement bone? With a few morsels of meat on it, when we actually want the Real Deal, which will speak for itself, when it comes?..
brainchip.com
thestockexchange.com.au
