“Shareholder approval is the key area of recent changes to ASX Listing Rules and Guidance Notes, which are now in effect. A reverse takeover must have 100% approval of the shareholders of the listed ‘shell’ company. ”
As the shell company needs to spend $000000 on research reports/ legal/re-admission costs, and only one transaction can be applied within 12 months & after 24 months must delisted, when facing 100% requirement, the huge uncertainty will also halt the shell company to pay these fees. These are what I was told during meeting with another shell company. Anyway good luck UUV shareholders!
Ann: Notification of cessation of securities - UUV, page-4
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Mkt cap ! $9.297M | |||
| Open | High | Low | Value | Volume |
| 1.2¢ | 1.3¢ | 1.2¢ | $28.26K | 2.345M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 303420 | 1.2¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 1.3¢ | 1122268 | 7 |
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