I agree they prob dont want any exposure to the downside - its...

I agree they prob dont want any exposure to the downside - its disgusting they are allowed to do this with no queries by the ASX. I complained a few weeks ago regarding the issuer having to maintain a market and received a blow off by ASX. The fact that it cost me a lot of money due to the issuer not wanting to buy back the warrants i bought the day before the XJO dropped 200 points didnt matter to the ASX.
I draw attention to the following for those interested.

ASX Market Rule, Guidance note 17 and paragraph 2 on page 2 entitled the reasonable Bid obligation (Rule 10.3.11 (b)).

http://www.asx.com.au/supervision/rules_guidance/asxl/asx_gn17_spread_of_warrant_holders.PDF

As you can see this states that a "Warrant Issuer must maintain at least one reasonable Bid in respect of each Warrant series for 90% of the time from 10:15am until commencement of the Pre-CSPA (Closing Single Price Auction) Session State (generally 4:00pm).
BUt if they dont - ASX wont do sheet about it -
Cheers