"Credit to management for allowing those who are no longer...

"Credit to management for allowing those who are no longer willing to accept the risk to liquidate their position. From memory so4 didn't." – correct. SO4 went into trading halt pending a financing announcement and to prepare a response to a query from the ASX. As it turns out I think that the ASX query was as large a problem as the financing. Once administrators and receivers were appointed the ASX released the query, and it was very clear that the directors must have soiled their underwear when they received it. I suspect that the main reason they never resumed trading was that they never came up with a satisfactory answer for the ASX. I expect that eventually there will be penalties for the directors of SO4.

You can find the query on this page dated 20-Oct-2021.