@Tommmo, it's a bit confusing but the ASX-listed shares, which were CHESS Depository Interests (CDIs) were always equivalent to 1/25th of a share of the US common stock, from when UPD first listed.
After they delisted, CDIs weren't a thing any more, the only shares that existed were US common stock, so you got the number of shares equivalent in US common stock, ie 1/25th the number of CDIs. Since these were always worth 25 times as much as a CDI, you didn't lose any money from this process.
I agree that Updater have done a really terrible job of respecting their small holders that didn't sell through the delisting. The best you can do is sign up for updates via Computershare, but I've found these to be pretty unreliable too. It seems like selling immediately after the delisting announcement would have been a fine move tbh based on the scant info we have.
Anyway feel free to email me at
[email protected] if you want some info from the latest conference call - I can't share it here.
