Titan Energy Services Limited (TTN). Mining services company,...

Titan Energy Services Limited (TTN). Mining services company, went suddenly and rather unexpectedly into administration, followed by little investigation (or at least little announcement of the results) of any possible causes, followed by its re-emergence via backdoor listing as AuMake. Legally, it's still the same company as TTN, just with a different name and business.

It's the usual backdoor listing story: the old investors who were trapped in the administration get used as cannon fodder to meet the ASX spread requirement (minimum number of shareholders) for an IPO that wouldn't otherwise be likely to have broad enough appeal to get there. Beats me why the ASX continues to allow this stuff to go on.