This is terrible news. I have been here before with another company and as per this thread there were lots of people all excited, expecting it to be a financial boost. How wrong they were. My prediction is that it will play out a bit like this:
The company will list on a USA exchange, massively reducing the number of shares on offer, leaving Australian holders with around a fifth of their present holding. Of course they will list a a higher price but the new US investors will get a benefit at our expense. There are so many companies in the US to invest in the price will slowly deteriorate leaving us all massively out of pocket, unless they make some rapid and massive sales progress. The management will be happy to see the back of the Australian investors and the ASX, they will treat us like we don’t exist, in the hope that we all sell up and bugger off.
I for one will vote NO when this is put to shareholders.
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