Yes its like owning a % of a private business ( you are still a shareholder ) you just cannot trade those shares on a market (ASX) so you would need to find someone to buy or sell to if you wanted to transact them.
Not many if any succesfull relisting story's, the people who say its a positive are on some strong copium.
AVZ Price at posting:
78.0¢ Sentiment: Sell Disclosure: Not Held