Here is a Doc about the same...

Here is a Doc about the same thing....https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTDYC4g67wRmZteNrke92GA==

UTR got a back door listing by other (same ) WAssie crooks
Ultracharge to undertake a selective reduction of capital to reduce the number of shares on issue by 129.2 million, representing approximately 17.2% of the issued capital of the Company

The Cancellation Shares represent approximately 40% of the total shares issued to these vendors and advisors ( WAssie Crooks) as part of this transaction.

“As significant shareholders of the company, I and the fellow vendors decided to take proactive action to ensure the Company had a capital structure that would give all shareholders the greatest chance of generating meaningful value”, Mr Ben-Shabat added
Just shows you, that the 5x2's have a lot of clout here in Australia and the ASX....(well , they do run the Country) and have for a very long time