Ann: Becoming a substantial holder, page-70

This is just another example of a company that decides to list on the ASX and then fleeces the shareholders.

I think there needs to be much better due diligence by the ASX before these tinpot companies list to a b/s fanfare.

It's just too easy. There would be many more companies in a similar situation where they have absolutely no intention of creating any shareholder value whatsoever.
I wouldn't mind betting that the majority of companies listed on the ASX are absolute dogs where shareholders will never get their money back. How many companies are de-listed annually?
The ASX should have much stronger criteria and scrutiny rules with stricter guidelines before admitting companies to be listed. In many ways the ASX is just as liable as the companies that take our hard earned money.
The ASX should require a company to agree to milestones for example as a requirement to show continuous improvement and creation of shareholder value within certain time-frames, otherwise the directors could be penalised or threatened with company director fines.

They are all a bunch of crooks...highly remunerated and they just take the money and run...