@Aspader broadly yes mate. you own what you own and they stay with the registry and have slightly less onerous reporting/disclosure requirements....but the biggest issue is you have to find your own buyer/seller and about $70 to trade via a registry form (unless the company kindly runs a buyers/sellers list - many will not). google public unlisted companies. Cowan Lithium - COW - is one of the very few public unlisted's on Hot Copper and the COW threads may contain info on this.