I thought only insolvent companies were ever delisted.... I would never have thought a company making millions in profits could also be delisted. What a kick in the gonads that would be for shareholders!
Surely there must be some sort of recourse for shareholders to prevent a company from unnecessarily delisting? Otherwise, what's stopping other companies from doing the same for whatever ulterior motive their boards may have?
Furthermore, I find it quite ironic that ASIC may ultimately be one of the reasons the company chooses to delist, when one of ASIC's primary roles is to protect shareholders.
Anyway, I don't think its quite panic stations for RRP just yet, but an announcement from the company to allay shareholders' concerns would sure be appreciated about now.
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I thought only insolvent companies were ever delisted.... I...
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