Ann: Voluntary Delisting Application, page-16

Just a note about the company valuation. NPAT figure includes a large one-off profit from sale of their custom medical packs business. Result from continuing operations is a loss after tax of $6.1m, of which $6.9m are one-off expenses.The company's argument that the shares are somehow massively undervalued is thus unconvincing. 

I took a brief look at the company a few months ago. The issue I have is with their new start up, their home test kits business. I struggle to see how a start up business that sells self administered medical tests through the mail direct to consumers will ever get the scale needed to be profitable. They're competing against free, professionally administered tests at the local GP's. I'm sure some will these test kits useful, but I just can't see mass adoption happening. 

Obviously, ITD management disagrees with this view. But then, why not prove the market, and investors like me, wrong by actually making a success out of their home test kits? If they can deliver consistent profits, then the share price will rise and reflect that success. Seems to me that delisting the shares just disadvantages existing shareholders, who will now have trouble cashing out of their investment whether the company is successful or not.