@Chilla has been very quiet of late. Didn’t he mention something like this?
Im still keeping an eye on things mate. I said my bit and a lot didnt agree with what i had to say, and ive had nothing more to add since.
It doesnt surprise me that this action has been commenced. Ive had no involvement in establishing it .... but the basis of the action seems in line with my issues surrounding poor Corporate Governance and non disclosure of material information.
The ETF Funds and Index Funds who have also been locked in this situation with the rest of us could be the ones behind it...but thats just a guess.
Hopefully it spurs the company into action and gets us trading again.
Last weeks announcement in response to AFR article could also have been in expectation of this action looming?
If a court finds AVZ in breach of ASX and ASIC disclosure and misleading conduct laws, then that has further implications for Directors and Company Secretary who traded shares during that period whilst in possession of information not released to the market.
Also, has implications for the Resolutions at the 2021 AGM to grant generous benefits for remuneration, termination benefits and performance rights, as if its found they were voted on whilst a court finds shareholders were misled and not fully informed in accordance with the law then i think those resolutions would have to be annulled??