Voluntary Admin, page-32

Gorton

Re a possible scenario, that maintains the asx listing.

It appears to me, that no-one's too keen to give more money to SWE management, given their track record and the current investment climate.
Therefore, to sweeten the deal, they're offering a backdoor listing as well.
A private entity, wishing to list on the asx, and wanting exposure to EARS, could pump new funds and management into the carcass which is SWE.

Existing shareholders get diluted vs walking away empty handed if SWE as a company failed completely.