Hey ASX - ASIC - hurry tf up, page-5

Pretty much a 0 chance of being delisted, that is only in very rare and extreme cases where a company refuses to adhere to ASX listing rules.

HAO - Haoma Mining is an example of where a company was delisted as they refused to listen to requests from the ASX to retract and reword statements in line with JORC requirements. The company would have remained listed had they changed the wording in some announcement but refused to do this leaving the ASX little choice.

What may end up happening here is some board changes where a new independent director or two may join the board, replacing some of the current ones. IMO - As the acquisition shares have already been issued and some may have been sold, the transaction wont be unwound as it will prove too difficult.

Given the alleged breach of the Corporations Act mentioned in the ASX reply, the ASX is obliged to refer this to ASIC but that doesnt mean ASIC will investigate or take any action.