AVZ 0.00% 78.0¢ avz minerals limited

If you guys are after a reference to what happens when a company...

  1. 1,229 Posts.
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    If you guys are after a reference to what happens when a company delists, look at Animoca Brands, ticker code AB1. It is still on Hotcopper.

    Animoca was delisted from ASX round about 2018/19 because of the use of crypto and tokens. The sp was 18c. They chose to use a secondary exchange called Primary Markets. It is expensive to use them but it is an avenue to buy and sell. The sp went from 18c to $4.50 but is now around $1. You can buy and sell your shares through the share registry as well by paying a fee and filling out forms. This may take 1-2 months for a transaction to be completed.

    Animoca promised to relist on an overseas exchange but never happened. They are behind in company reports to ASIC, including financials. The advantage, if you call it an advantage, of being delisted is no reporting or transparency. The disadvantage is the lies and keeping shareholders in the dark.

    It is not the end of the world but it gets complicated. You will need a strong shareholder advocate.

    Good Luck

    xxxooo


 
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