And this is why our regulators are a laughing stock ...Response...

And this is why our regulators are a laughing stock ...

Response from the ASX..

1)
"In regards to the issue of price queries, ASX will generally query a company if there are indications that the market is not reasonably informed. In the case of BRM, we note that the share price declined on 19 April and 20 April following the announcement at 12:21:00 PM titled “Change in substantial holding for BRM” that Wan Nam International Holdings Limited had increased their shareholding to 80.33%. The notice that the holding had exceeded 80% meant that Wan Nam could delist BRM and this would also explain the share price decline. The share price then increased on 23 April, the same day of the announcement at 2:16:00 PM titled “Wan Nam Offer Extended Until 31 May for BRM” which announced the extension of the offer. The interpretation of company announcements is up to the market participants. There were no indications to us that the company is not complying with its continuous disclosure obligations; hence a price query was not appropriate."

2)
"With regards to purchasing shares on market with the specific intent of assisting the predator company, this is a takeovers matter governed by the Corporations Act and administered by ASIC. It may also be subject to the Australian Government Takeovers Panel."

3)
"With regards to Wan Nam extending their offer, this is also a takeovers matter governed by the Corporations Act and administered by ASIC. Again, it may also be subject to the Australian Government Takeovers Panel."

As such, unfortunately ASX cannot assist you further with this matter.

Useless. Lets pass the buck some more.