One could argue, this kind of sets a precedent, especially in the case of the rights issue which all directors had guaranteed they would participate in and didn't. IMO, by ASIC not taking any action, this opens up a can of worms. Now, without any effective protection from a statutory regulatory body, one could argue confidence in ASX announcements has been severely eroded. There could be repercussions and unintended consequences.
intermoco is the real deal, page-8
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