Ann: Landmark Acquisition to Form New Gaming Powerhouse, page-442

The metaverse wasn't really a thing when Animoca was suspended from trading in Sep 2019 and then got delisted in March 2020. Whereas now, it is. But even if ICI does get delisted, it could follow the same path as Animoca, which is to hook up with a private share trading platform like Primary Markets, where buyers and sellers can put their orders in and transact. Only problem is, the costs are high (about 6% I believe, of the value of your shares to sell). Also, there is not as much liquidity as there is with being listed on a stock exchange.

In the first few months after delisting, we shareholders were in the dark about Animoca's share price. I remember in about September 2020, when they announced that they had record revenue for the first four months of the year, I was thinking, great it should be worth more than the 18c it was when it got delisted. But on Primary Markets people were selling for under 10c a share! It wasn't till May this year that the company raised funds at $1.10, valuing it at well over $1B and then raised more funds at $2 in late Oct valuing it at $2.2B. The shareholders that held sure aren't complaining now! (The ones who sold it would be!)

For ICI it should be a priority to get the synergies going and work towards increasing revenue, that's what will move the share price higher. Whether it keeps trading on the ASX or not, increasing its revenue will increase its share price. And that will keep us shareholders happy.