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matty8989

144 Posts.

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31/07/18

01:45

Post #: 34635302
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Originally posted by danbradster ↑

Based on my experience with ASX listed Chinese companies, our odds are not good.

But I'm a holder, so I must be feeling optimistic. Now we have new directors who have mutual interests as we do, unlike the Chinese directors, so that's a positive.

To the people expecting/hoping it will be wound up and proceeds paid out to shareholders - you're dreamin'. It took a long time to build the company up to where it is, and the Chinese majority holders won't be winding it up. The question is - will regular dividends be paid to make it a reasonable ASX listing.

The majority owners must have had a reason to list on the ASX. They said it's for the reputational value of being an ASX listed entity? From the cynical perspective, would it be worth ripping off Australian investors for <$15m when the company seems to have real cash of $50m?

The Chinese directors do seem incompetent at following ASX regulations, so I guess they're regretting the decision, since they were expecting it to be easier / less burdensome. The Mejority directors seem more competent at following the rules, and then the Chinese directors can get on with the job of running the Chinese operations.

Will it trade? I guess so, thanks to Mejority.

Will we see anything? I guess 50/50. They'll either pay regular dividends and everything will be great, or they won't pay dividends and people will remain very untrusting.

Will it go into admin? If it's a scam, yes. Otherwise it should continue running.

I'm more worried about it being delisted than going into admin, because it seems easier to competely ignore AU holders if it was delisted.

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So if its delisted we get nothing? so its same as going into voluntary administration.

XPD Price at posting: 3.3¢ Sentiment: Sell Disclosure: Held
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