Ann: Response to ASX Query Letter, page-167

Firstly, no position either way, just an interested onlooker.

Serious question - if they are delisted, clearly the holders will need a facility to be able to sell, either back to directors/management, or after a new listing on a different exchange. But I understand less how shorts can close their position. If no new listing emerges, how do shorts close a position if there is no facility to buy the shares back for the holder they borrowed from? With a company like this so heavily shorted, I'm interested to know how that works. In bankruptcy shorts theoretically don't need to buy back shares I assume, but for a delisting, technically the shares aren't worthless and the position would still need to be closed.

Does anyone know?

Outside of that, my view is that if you are a company hoping to achieve financial/banking type licenses, it doesn't bode well to be seen to be antagonising investigating regulators. If I was management, I would be "yes sir, no sir" with this process to be perceived as easy and professional to work with. Last week's ASX attack wasn't a smart move both for this process, and for future license applications.

Thanks in advance for any help on my question.