FORWARD SELLING NOW CONFIRMED27 Mar 2024 10:14
As this breaks rule 1020.3 an guidance rule 1400 the 3rd party and or agent has lost control of or and its internal procedure is or was unable to settle said sales. The company or party is now to be censured.
We all knew it goes on and that it is illegal. Some bastard has been selling shares it does not have at a higher price then expecting said to be issued shares bought at a lower price.
The stock exchange will no doubt help said company out, giving more time to settle.
Nothing to do with CPX or its management. a
This will come out of suspension when agent gets his discounted shares. Just a slap on the wrist. The Stock Exchange know this goes on and has done for some time. It only becomes obvious when the rules were seen to be broken when these guys doing this are unable to settle.
If share holders vote down the issue, the agent will not be forced to close their short. Their friends in the city will create a workaround. The Stock Exchange will no doubt work to help the shorters if worst comes to worse. Obviously that action should also be seen as illegal but will it?
Great time for Dr Graham to come in and bid for the company. How will shorter manage to buy back sold shares? How about if the offer from Dr Graham is conditional on no fundraise what happens then? You can bet your bottom dollar the Stock Exchange will step in and help the shorter to get their shares and the pre-determined price. Damn it is the Stock Exchange itself that should be censored and fined. They are part of the corruption. The suspension is to help out their friends. For public purposes it will not doubt issue a small fine to the agent and let them keep the profits.
I have bought shares before where the broker could not provide the shares.