Ann: Removal from Official List, page-41

Some response regarding ASX.

Basically, ASX only do some certain checks and do not guarantee their accuracy. So any scammers who want to scam Australian money could just pass the checks and list in ASX to take away Australia money.

Further matter must be reported now as we are all alone.
ASX refers to your email on 23 July 2018 regarding your concerns about the recent delisting of CDC on 23 July
2018 after breaching a number of significant ASX Listing Rules. You have asked what shareholders’ position is
following CDC’s delisting, and what steps were taken by ASX to monitor CDC.
ASX would like to thank you for making the time and effort to bring these matters to its attention. These types of
communications are an importantsource of intelligence for ASX in performing its role of monitoring and enforcing
compliance with the ASX Listing Rules.
ASX undertakes a number of checks before it admits a company to the official list, including criminal record and
bankruptcy checks of its directors, and frequently rejects applications by companies it does not consider suitable.
However, as I am sure you will appreciate, ASX is not in a position to guarantee the accuracy of the information a
company provides to the market or the honesty or competence of it directors. Further information about the
steps involved when a company lists with ASX is available here:
https://www.asx.com.au/documents/rules/gn01_admission.pdf
As you may know, CDC’s listing was terminated for breaching the listing rules, following extensive engagement by
ASX in an attempt to have it rectify those breaches and usually after a lengthy period when its shares have been
suspended from trading. ASX released a statement to the market explaining the reasons for the termination,
which included a number of serious breaches of the listing rules, including on matters to do with the disclosure
of information to the market.
The law unequivocally makes it the responsibility of the company and its directors to ensure the information they
provide to the market, both in their initial listing prospectus or subsequently under the listing rules, is accurate
and not misleading. That said, ASX does monitor what information listed entities give to the market under the
listing rules, and where it becomes aware that the information is incorrect, it will take action to enforce the listing
rules. Ultimately, it was ASX’s concerns about CDC in this regard that caused it to suspend and then terminate
CDC. Further information about what steps ASX can take to enforce its listing rules is available here:
https://www.asx.com.au/documents/regulation/listing-rules-enforcement.pdf
ASX is a market operator and not a corporate regulator and does not have the power to take regulatory action
against a listed company or its directors for breaching the law. In the case of a company established in Australia,
the relevant corporate regulator with that power is the Australian Securities and Investments Commission
(“ASIC”). In the case of a company established in another jurisdiction, it is the equivalent to ASIC in that
jurisdiction. Given the significant concerns, ASX will write to both ASIC and the Securities and Futures Commission
in Hong Kong, asking for certain matters to be investigated.
Following the removal of CDC from the official list of ASX, each shareholder will become a shareholder of an
unlisted entity. As a shareholder in an unlisted entity, each holder will continue to have a right to vote at
shareholder meetings of CDC and will otherwise continue to have all the rights of a shareholder that they currently
have pursuant to the company’s articles of association and otherwise under Hong Kong law