XPD's Litany Of Sins! Devil's In Chinese Details...
Chinese ASX Listed XPD Soccer (XPD) has been suspended for over a month. Nobody, ASX included, knows what's going on!
Why? Simply, offshore Chinese are not telling!
Why? XPD has repeatedly failed to meet its Disclosure obligations of Directors' Interests on its Chinese offshore shareholding structure and its impact on XPD.
Why, again? In the offshore holding company for Aussie Listed XPD, Mr Jiameng Zhang, CEO, reputedly has 80% of shares. Mr Shui-Chiao Chang, Chairman, has 20%.
Both Mr Zhang and Mr Chang have so far failed to lodge updated Appendices 3Y to ASX for XPD.
Further, XPD is flouting section 201A of Corporations Act as it does not have two Aussie resident directors.
Meantime, Aussie minority shareholders are picking their teeth with Chinese toothpicks (but wish they could swing Aussie Picks!) with SP at 3.3 cents, but probably worth Zip, suspended in China Limbo.
Irony: XPD is a highly profitable Chinese company. IPO raised multi-millions in Australia. Promises to pay dividends, but doesn't. Share Price tanks. Chinese buy more shares cheaply off-market.
XPD is just one of several Chinese ASX companies whose directors-Chinese Nationals- are a shame to China's high ethical standards
Will Investor's Ever Get Their Money Back?
-
- There are more pages in this discussion • 7 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
