That is clearly what has happened. Capital management issues - rubbish. If they have a capital management plan that might see them reduce their cash at bank sharply they should be advising the market of same. The major shareholders have clearly decided they do not want any leakage of funds to Australia - apart from their pet Chairman's fees. If they are not prepared to respect normal governance and ASX rules then they should not be listed - which to me is where they are probably heading. It won't change their lives in China.
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