Yep he missed the bigger picture entirely. ...the manipulator hasn’t outsmarted himself. It appears a sophisticated
scam going on with the objective of taking control of the company not boustrophedon a short term trading gain.
If the ASIC and ASX were to get even a handful of calls this week articulating our concerns, asking why their surveillance has not detected the shenanigans and what they’ll do about it ( e.g. an immediate trading halt) should apply pressure for a serious investigation into this apparent market manipulation.
When you phone each, quote the two sections of illegality from the Corporations Act 2001 in my earlier post today; s1041A (market manipulation) and s1041B (false trading and market rigging). For the ASX’s responsibilities there’s possibly further criminal offences that will come to light, perhaps even at share broker level.
How could it possibly be said there is presently (and for the last 6 months) a fair and informed market in CDY shares? The CDY market cap (and our hard earned holdings) has crashed almost 70% in the last 18 months and not a word from either regulator or our a moribund Board.
CEO and Chairman, have you not watched in silence our investments crash in what seems to be a curious market for CDY stock if not market misconduct? Are we facing a part takeover offer ( or management buy-out) to sieze control of the company in coming weeks if not in days? At what decimated sp ( 15, 20 or 22 cents ) is the company’s economic viability and sustainability at risk?
At the least several “please explain” ASX notices should have issued to the company. Why haven’t they?
Be sure to obtain the names of the persons you speak to at the ASX and ASIC and if possible an ID number for each conversation, for follow up enquiries. It would not surprise if you can’t find a person there who even knows what you’re talking about and would crazily pass you off to NSW Fair Trading.
CDY Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
