I would be most surprised if ASIC was to do anything in relation to the late payment (and other dubious matters) by HQ Mining in relation to this takeover of GCR. It is such a joke that not even an apology or explanation was given by HQ to shareholders, what a pathetic bunch of weasels!!
This is a perfect example of the Chinese doing business in this country under rules that suit themselves. They don't seem to take Australian law seriously.
By not even (at the very least) severely reprimanding HQ Mining, they will continue to break rules without penalty and that makes one wonder what is the real purpose of ASIC?
Make no mistake, other rules were broken in this takeover and i personally will not be satisfied until i see explanations.
If we the accepting shareholders do not obey the rules, then, we are just eliminated as it suits HQ Mining. We shareholders have no real recourse to satisfy our out of pocket expenses in the late payment let alone those that have been rejected in a dubious manner and still fighting for justice be it with Computer Share or others.
Let's see some real action on your part ASIC. This should not be allowed to happen again and should be used to show zero tolerance of such in action, late payment, nil explanations, rejection of acceptance forms for no apparent reasons.
These are but just a few of the complaints and i dare say many more exist and have not been brought to ASIC's attention.
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Ann: HQ Mining Offer Despatch of Consideration, page-8
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