Seeing the comments on here tonight made me have a look at my email.
I too got the same response.
This response is not from the contact I have at ASIC.
I sent 2 lengthy emails to my contact a few weeks ago. I got a reply each time thanking me for my email and that all of the points I made were "noted".
As stated before, I am of the opinion ASIC are not/will not be taking any action here. The JORC statement will not been seen prior to a new IER report being commissioned.
Realm will get away with not releasing an updated JORC by saying that they are still assessing the information and modelling is continuing and that this work is current,y incomplete, and that they are unable to give a definitive timeline about when an updated JORC would be ready to be released.
I may have mentioned to my ASIC contact about how anything says Gordon Galt cannot be trusted. I may have pointed out how many times he said (in ASX announcements) Realm would,
- hold an EGM (happened over 6 months later than first advised)
- complete capital raising (never happened)
- re-list (never happened)
- release updated JORC (already missed a time line provided on 3 separate occasions, and heading towards a 4th)
Galt, in my opinion, has baited ASIC and they have run away.
My sources tell me representatives from ASIC were at the AGM (I wasn't), and that's why no questions got answered.
The man does not have a good record with authorities finding in his favour. We all know about 2 adverse findings (FND and RRP) made by the Takeovers Panel.
It is now too early to confirm we will be going to Court.
I suspect the commencement of a new IER has, or will begin soon.
This will be sent to us when they send us the ASIC form in relation to Compulsory Acquisition (Form 6024).
T2 must advise on the form 6024 what price they will be offering us for our shares (see attached, point 3).
I will see what is in the IER, and what price they are offering, before I make a decision as to whether to object or not.
I believe the offer will be high enough that it will warrant the objection form to not be completed.
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