A warning to all shareholders everywhere

The current attempts to delist Flinders Mine could set a precedent for all future company take overs on the ASX, if this delist is to proceed then the current laws of 90% ownership to delist will be no longer.

All any company will need to do if the future is aquire

* 50.1% of a company, select their own management and BOD.

* Instruct the management and BOD to do the absolute minimum.

* Over a period of time call for a delisting from the ASX via an “Ordinary Resolution “

* The majority shareholder then uses their 50.1% to have the company delisted.

Deal done........ no longer a need for ANY company listed on the ASX to require 90%!

I believe this should be a warning to any shareholders holding shares in any company on the ASX, this could so easily happen to a company you currently hold shares in.

L4L