However it goes , as company directors they have a legal fiduciary responsibility to their share holders to obtain the best financial outcome for their share holders .I cannot see any clear path to sell part or all of a share holding after delisting unless they sell the whole business .
They have done that before but it is a leap of faith to enter the opaque world of an unlisted business without the reporting requirements and the public market that the ASX brings .
I suppose they are still a public company rather than a private company so share holders will have certain legal rights and directors will have legal responsibilities to their share holders . There Announcement was making a case that delisting would make the business more valuable and hence a share in it would have more valuable so the change would be in the best interest of share holders . The Market today did not embrace that argument but some one bought the shares . It will be interesting to see how they flesh their argument out as a vote gets nearer .
BYE Price at posting:
4.7¢ Sentiment: None Disclosure: Held
