Ann: Received ASX letter of 18 December 2019, page-75

OUCH...

Well, the band aid has at least been partially ripped off now!

Now what?

My guess is the Company has already been doing their due diligence on listing requirements for other possible exchange’s in light of the possibility they may come to an impasse with the current exchange!
They have a shot to modify their SAFE agreements ( along with a list of other requirements) and possibly stay where they are, but the language in the news release didn’t sound to promising to me!

So if they are forced out and choose to list on another exchange that is already catering to Company’s in a similar operating space, they should be able to operate without looking over their shoulder going forward! ( at least with the exchange, there may be other regulatory issues)

They have 3 unclosed announced acquisitions (Gamma, Quidd and most recently nWay) that are a combination of stock and cash based offers!
If there is a delisting, I would be concerned it could affect these open proposed deals if not closed before a possible new listing could occur!

All these deals are with sophisticated Investors and Business owners and would assume they have come along with Animoca due to the potential bright future they see developing over the long term!

I don’t know what decisions the Company will end up making to navigate through this unforeseen turn of events!
Being public allows them to use their shares as currency to have structured their past transactions, so I would guess relocating to a new exchange would allow them to stay the course assuming a structure cannot be reached with the current exchange!

Probably a very expensive and time consuming endeavor, but they may not have much of a choice!

All the above is my opinion