ERG 0.00% 4.2¢ eneco refresh ltd

asic should investigate into fogarty

  1. 420 Posts.
    I agree that Peter Fogarty's recent purchase of ERG convertible notes before the fact needs to be thoroughly investigated in order to clarify whether possible insider trading guidelines were breached.

    Should others similarly feel that ASIC needs to investigate this, then please go to:

    Or to be more specific:

    As Jogan said:

    "Robin Hood stole from rich and gave to the poor. Mr Fogarty reversed this status, he stole from the poor ERG convertible noteholders, and pocketed the profits.
    I refer you to ASX report dated 7 November 2002, where Sir Peter acquired 4763 convertible notes at a price of $4.53 each, and within 30 days the announcement of a share conversion at face value, being $13.50 per note, was declared.
    Based on my calculation, Mr Fogarty would pocket $42000, at current share prices within the month.
    This sniffs of inside trading...."

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