In case people are concerned that somehow this company can...

In case people are concerned that somehow this company can simply delist from the ASX with no consequence, i would like to remind people of some of the Listing rules to prevent this from happening

An entity may ask ASX to remove it from the official list at any time.

ASX is not required to act on an entity’s request for removal and may require conditions to be satisfied before it does so. ASX’s power not to act on an entity’s request for removal exists to ensure that the removal is being sought for acceptable reasons.

Some unacceptable reasons why an entity might ask to be removed from the official list include if it is doing so solely or primarily:

to avoid the application of Chapter 10 of the Listing Rules (transactions with persons in a position of influence) to a particular transaction that would otherwise require the approval of security holders; or

to deny minority shareholders a market for their securities in order to coerce them into accepting an offer from a controlling shareholder to buy their securities.

ASX will usually require the following conditions to be satisfied before it will act on a request from the entity for removal:

the entity obtains the approval of its security holders to its removal (not based on holdings) ; and
the removal of the entity does not take place any earlier than one month after security holder approval has been obtained.

ASX is likely to permit delisting of an entity that has been the subject of a successful takeover bid without requiring shareholder approval if:

the bidder and its related bodies corporate own or control at least 75% of the shares of the entity but have not satisfied the compulsory acquisition threshold (normally 90% ownership);

the number of holders with a holding of at least $500 in value is less than 150 (excluding the bidder and its related bodies corporate);

the bidder foreshadowed in its bidder’s statement that, if it acquired control of the entity, it intended to cause the entity to apply for removal;

the takeover bid was open for at least two weeks after the bidder and its related bodies corporate reached the 75% threshold; and

the entity applies for delisting no later than one month after the close of the takeover bid.