Ann: Application for ASX formal de-listing approval, page-9

I believe once any one shareholder of any company owns above 50% of any company then an ordinary resolution should NEVER apply.

Essentially any shareholder that owns 50.1% of any company has 100% control, they control the selection of the BOD, the management, the direction of the company, the listing or delisting of the company, pretty much ever crucial decision relating to the company.......

The rules need to change otherwise we will see so many companies be exploited by unscrupulous activity, ASIC needs to change the rules.

L4L