I was initially drawn to this company when looking at businesses...

I was initially drawn to this company when looking at businesses with net cash > market cap.

Having read through the proposed de-listing process, I wouldn't touch this stock with a 10-foot pole.
The whole thing has the makings of a trap. Surely a de-listed company's liquidity will be even lower than one trading on the ASX?

Sounds like a good way for the directors to buy what's left from desperate shareholders at an even bigger discount!!

The company should be wound up, not delisted. Winding up would generate a much higher return for the average shareholder.