Ann: Bidder's Statement - Bastion Mining Pte Ltd, page-58

Further to this from the bidders statement. Rather making broad statements of delisting which may be a possible outcome....

What happens if the Bidder (together with its Associates)
become the holders of greater than 50% but less than 90% of
Xanadu Shares?
If the Bidder (together with its Associates) acquires a Relevant Interest
in at least 50.1% but less than 90% of the Xanadu Shares, the Bidder
will acquire a majority shareholding in Xanadu but will not be able to
compulsorily acquire the Xanadu Shares which have not been
accepted into the Offer.
In these circumstances (and upon the Offer becoming unconditional),
the Bidder will nominate persons to be appointed to the Xanadu Board
such that a majority of the directors of Xanadu are directors nominated
by the Bidder. The Bidder also intends to implement the other
intentions set out in section 3.3 to the extent possible and consistent
with Xanadu being a controlled entity of the Bidder, but not a
wholly‑owned Subsidiary.
If you remain a Xanadu Shareholder in these circumstances you may
be a minority shareholder in what may be a less liquid stock.
If the Bidder is of the view that the benefits of a listing on the ASX
and/or TSX do not justify the additional corporate and compliance
costs of maintaining these listings, the Bidder may make an
application, or seek to cause Xanadu to make an application, to
remove Xanadu from the official list of the ASX and/ or, if permissible,
TSX.