Ann: Voluntary Delisting from ASX, page-3

WTF...am I reading this right? If they really think it's that undervalued, why not find money that agree with their assessment and buy the company outright? Instead of that, they are doing this "trust us, bros... the company is super valuable, we just need less accountability to save you money". If the company is really worth 46c (i.e. $490m), how is $300k ASX compliance cost significant enough to be listed as one of the reason to delist? This board is either delusional or simply malicious. I didn't really want to believe it, but this announcement reeks of something unpleasant.