The Australian Securities and Investments Commission ASIC has commenced legal proceedings in the Supreme Court of New South Wales seeking leave to allege that Australian airline Regional Express Holdings known as Rex engaged in misleading and deceptive conduct and contraventions of continuous disclosure obligations.
According to a December 11 announcement, ASIC will also allege former executive chair Lim Kim Hai was involved in Rex’s continuous disclosure breach and that Lim, along with John Sharp, Lincoln Pan and Siddharth Sid Khotkar, contravened their directors’ duties.
ASIC will allege Rex released a misleading Australian Securities Exchange ASX announcement on February 28, 2023 stating Rex was “optimistic the group...
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