We can come up Trumps from Amazon's Aussie boycott, says Gerry Harvey


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Bolton’s associates threw the kitchen sink at Molopo to stop the spending spree. And as the company’s managing director, Baljit Johal, told investors on Thursday – before he was ejected from the board – it worked.


The Bolton-associated fund manager, Aurora Funds Management, managed to tie up Molopo with the Takeovers Panel, which has now ordered the company to abstain from any transactions of more than $175,000.


Not that Bolton’s brigade deserved all the credit. The ASX and now ASIC have played a major role too.


“As a consequence of recent transactions, which the board is of the firm view will enhance shareholder wealth, the ASX has raised concerns about Molopo’s compliance with some listing rule requirements, which also include the Orient transaction the company entered into in July 2017, before any of the current board members were appointed,” Johal told investors.


He said the ASX concerns had been referred to ASIC and Molopo was “currently responding to the matters raised by ASIC, which relate to the original Orient transaction in July 2017 through to the recent Drawbridge transactions the company announced on 8 May 2018”.


Article source: http://smh.com.au/sport/hockey-canberras-anna-flanagan-on-cusp-of-hockeyroos-return-20170925-gyol80.html

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