@Rvajna is somewhat correct but there are a few factors at play for takeover and still being able to hold onto shares.
From my understanding and experience - the threshold for shareholder/voting power that can see takeover company (Zhaojin) vote to delist the company shares from ASX (TIE) - citing costs to list on ASX & etc as reasons, is 75% voting power.
Now, if they hit 75% - they can "de-list shares", which means these shares and the entity (TIE) is still operating - but not as an ASX registered company. You can still hold delisted shares.
However, this may open current shareholders to questionable business practices that have no real chance of being reviewed. Once a company has majority control, shareholders are already at the mercy of unscrupulous business practices - which is likely why the recent sell out and consolidation has moved so quickly.
Additionally, takeover companies (Zhaojin) have the right (but not the obligation) to "compulsorily acquire" remaining shares for a "fair cash amount" if they reach 90%.
There's a chance of an institutional investor stepping in to block the 75% and 90% milestones but there's still some risks in betting on this.
all imho and dyor of course. Interested but not currently invested.
