As far as I know - and I'm NOT a corporate lawyer - the outstanding shares just become worthless when the company delists. They are no longer bound by ASX rules of reporting etc. They do not have to buy out the outstanding shares. And the whole concept of NTA is meaningless - they don't have to give you a thing.
Once they delist, the board has absolutely NO obligation to its shareholders as far as I know.
This is just the end of the game that these jokers started when they moved in on IDG in the first place. It's called asset-stripping.
No, I'm not a bitter stranded shareholder - I got out when the board spill happened and this lot got in. I voted against it, but we lost. Now those who voted for it have also lost. Sad - the original company had some nice potential projects going, and I really don't know what has happened to the uranium in Africa, the coal in Hungary, etc.
Or what will happen to the money in the kitty....
IDG Price at posting:
$4.40 Sentiment: Sell Disclosure: Not Held
