The powerto terminate an entity's listing is not one that ASX exercises lightly, since it takes away from the entity's securityholders the ability to trade their securities on a licensed securitiesexchange. However, it is a power that ASX willexercise to protect the reputation and integrity of the ASX market and toprevent future investors from buyinginto a listed entity that in ASX's opinion should not be listed on the ASXmarket. https://www.asx.com.au/documents/rules/gn33_removal_of_entities.pdf
Delisting will no doubt negatively impact any pending legitimate deals. If any pending deals survive this event then that would ring alarm bells.
By last report there was 8 mil cash in the kitty and delisting is likely to result in reduced disclosure and reporting requirements, reduced accountability, and scrutiny.
I really, really hope shareholders get their fair share of remaining assets but it won't be given freely.
CGB Price at posting:
2.1¢ Sentiment: None Disclosure: Not Held
