I read all the information posted on this forum yesterday and weighed it all up as its a new dynamic I have not seen played out in the companies I have invested in over the last 30 years. I respect Basileus framing the issue for us on HC so we can have a reasonable expectation about what it means and what to expect.
I had Xmas drinks last night with a corporate legal friend who shares my passion for gold detecting. After going over my experience with the new Minelab 7000 detector I asked him about what had occurred with TV2U.
He looked at the ASX announcements on my laptop and the posts by everyone here. His informal red wine filtered opinion was framed as personal opinion and not as advice as is not to be represented here as anything else as commentary and opinion of Taincrow. He said he that largely he agrees with Basileus in terms of a core issue being a procedural issue occurred in shares apparently being potentially issued before a cleansing notice was issued, and hence traders were potentially unaware of how many shares were in the market that day.
He did say that a second line of enquiry does exist in the ASX letter which is pointedly around the Dutch Health deal and who knew what and when. He said IHO if this is somehow entwined with the first issue it may take longer to resolve, and if the ASX takes the view that someone somehow benefited in these dynamics, in general principles companies who end up in such a position, may find it leads to some directions on share trades that day being made, and possibly penalties.
He remarked the first issue seems to being worked through as the precedent case law will guide its resolution, and the correct wording appears in the company response to suggest they have adopted that approach. The second issue is more a mystery to him but said it will all come out in the wash.
He could not be drawn on how long it may take to resolve. We just need to be patient now and await a new prospectus and outcome.
TV2 Price at posting:
1.7¢ Sentiment: Hold Disclosure: Held