“The substantial holding notice regime is an important feature of Australian corporate law that allows the market and shareholders to understand who controls substantial holdings in the company. A failure to comply can expose the substantial holder to serious criminal penalties and civil sanctions, including the potential loss of the securities they hold.”
What happen if asx suspend the shares currently hold by the directors. An EGM then get call, everyone get to vote except for the directors.. we then vote to liquidate the company..
Is that possible?
The liquidator arm with a legal australian court order, should have no problem liquidating the HK company, it in turn should have legal right to liquidate the company in China.
If the directors try to siphon off the money or assets before the liquidator get to it, they are essentially stealing from the company. Money can be claw back, they can’t run away with it.
Iam drawing a very long bow here.. is the realistically possible?
Ann: Response to ASX Query, page-3
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