ESS 0.00% 50.0¢ essential metals limited

Genuine question, from someone who doesn't really have much...

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    Genuine question, from someone who doesn't really have much knowledge about corporate shenanigans,I'm guessing it means ESS becomes extinct and we are issued DVP shares to the agreed exchange rate on the day? Please correct me if I am mistaken.
 
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Currently unlisted public company.

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