I think you are right. There is no market for private company shares and the only willing buyers are likely to be the ones who are closely associated. They may make an offer from time to time to take the shares off your hands for nothing.
It is 'allowed' under ASX rules because the company was about to go into Administration and the board simply said there was no option other than to accept the terms which have wiped out shareholders. You can make your own assessment of the board's diligence
SPT Price at posting:
4.5¢ Sentiment: None Disclosure: Not Held
