http://reports.pr-inside.com/sadif-analytics-upgraded-dolomatrix-international-r3229611.htm
Saturday 16th - SADIF Investment Analytics, announces a new Rating Update Report covering Dolomatrix International Limited (DMX). The report uses SADIF's powerful StockMarks™ stock rating system and contains important analysis for any current or potential Dolomatrix International Limited investor.
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http://www.mondaq.com/australia/x/182080/listing+rules+flotation/Pros+and+cons+of+conventional+versus+back+door+listing+on+ASX
Saturday 16th - ... An example of a recently created listed shell company is Dolomatrix International Limited (DMX). For various commercial reasons, the directors of DMX sought and obtained approval from its shareholders to sell DMX's main undertaking to another company. The transaction was completed in midFebruary 2012 and currently the directors are returning capital to shareholders. In the explanatory memorandum that went to shareholders for the purpose of getting shareholder approval to the transaction, it is stated that:
The Company is, therefore, likely to be wound up unless it could be used to facilitate a transaction whereby a third party sells a business or asset to the Company on a share exchange basis to obtain a control position in a transaction known as a "backdoor listing". The ASX is unlikely to permit the Company's Shares, while it is a non-operating listed company, to remain trading for more than six months after Completion of the Asset Sale if a suitable acquisition is not identified in six months.9
Thus DMX is presenting itself to the market as a potential classic back door listing vehicle after the distribution to shareholders of the cash from the sale of DMX's main undertaking.
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