145 instead of 817 is fantastic well done . Lets move on and focus on the main thing, and we all know what that is.
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145 instead of 817 is fantastic well done . Lets move on and focus on the main thing, and we all know what that is.
https://www.fma.govt.nz/news/all-rel...nvestor-forum/
FMA seemed very serious in the above media release.
I particularly liked this part
"Karen Chang, FMA Head of Enforcement, said: “Market manipulation undermines confidence in financial markets, especially if it is by a senior executive at a listed company. We considered Mr Hill’s conduct warranted a strong response to demonstrate that such actions will not be tolerated, and to maintain confidence in New Zealand’s markets.”
He has $145K of ill gotten gains from NTL plus the balance of his NTL shareholdings for the FMA
to focus on cleaning out before starting to extract the real penalties out of his back pocket for the
alleged conduct ;)
Perhaps the FMA should aim at making him pay the full pound they extract and some more back to NTL and it's past and present Holders as compensation ;)
Most wouldn't have too much difficulty determining the extent of their Losses in terms of NTL for the duration he has been on the NTL Board :)
FMA - been over a year since that last announcement - get a move on. Lets hope there is resolution soon. Be pleased to hear the last of Hill and instead celebrate (optimistic) Jonus good work.
If its found that he did, or at least, was trying to manipulate the market - would that lead to action by shareholders to reclaim some of their losses? From what he said, it was never openly pumping the price, but it was certainly in a positve vein - that said JOnu was positive too, just that he has done something (good so far) about it
Possibly throwing good money after bad. Even with an FMA condemnation proving and quantifying actual damages to shareholders will be difficult and expensive imho given covid and the risks inherent when investing in a mining company. Maybe by 2024 we will have recovered it all anyway!
Great to read in the Sept quarterly report how the company is now engaging with the Australasian mining community and regulators with good feedback. Also prudent that the placement has been temporarily suspended until additional confidence is obtained on the costs and processing route.