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Last 20 companies delisted from ASX
COMPANY	DATE DELISTED	REASON
LOCHARD ENERGY GROUP PLC (LHD)	22 May 13	we understand the company delisted because of compliance costs, low liquidity on ASX and the Australian register accounting for only 6.5% of the company's share capital - the company is also listed on AIM and CDI holders have been issued with certificates - if you want to sell contact CPS Securities
SUNSHINE HEART, INC. (SHC)	06 May 13	we understand Sunshine Heart‟s decision to delist its CDIs was due to the low level of CDIs quoted on ASX, particularly when compared to Sunshine Heart‟s current issued share capital, and the low level of trading on ASX compared to that on NASDAQ. In light of these circumstances, Sunshine Heart formed the view that the administrative costs of an ASX listing, including the higher level of regulatory compliance costs associated with two listings, were no longer justifiable - it remains listed on NASDAQ
CHINA JXY GROUP LIMITED (CJG)	29 Apr 13	we understand ASX can exercise its discretion to delist a company under Listing Rule 17:12 and has probably done so in this case because the company's securities have been suspended for many years
ULTRAPAY LIMITED (ULT)	24 Apr 13	we understand ASX can exercise its discretion to delist a company under Listing Rule 17:12 and has probably done so in this case because the company is in liquidation and its securities have been suspended for many years
CANADA LAND LIMITED (CDL)	22 Apr 13	we understand holders of CDIs or interests in ordinary shares received $0.05 from Chedsey Limited for each CDI or interest
SMART SERIES 2009-1 TRUST (SMQ)	18 Apr 13	we understand the trust was delisted following full redemption of the SMART Series 2009-1 Trust (the “Trust”) Class A-2 secured pass-through floating rate notes due 14 October 2016
LINQ RESOURCES FUND (LRF)	12 Apr 13	we understand IMC Resources Holdings Pte Ltd paid a consideration of $0.72 per LRF unit in its takeover of the fund
SKYWEST AIRLINES LTD (SXR)	12 Apr 13	we understand that VAH Newco No 2 Pty Ltd, a wholly-owned subsidiary of Virgin Australia Holdings Limited (“VAH”) acquired all of the ordinary shares in Skywest Airlines Ltd - shareholders in Skywest received the following for every share held in the Company:  a cash consideration of A$0.225  0.53 new ordinary shares in VAH
MAGELLAN PETROLEUM CORPORATION. (MGN)	28 Mar 13	we understand the company delisted because of the low number of CDIs and their low liquidity, coupled with costs and admin burden - it remains listed on NASDAQ
LION SELECTION GROUP (LGP)	12 Mar 13	we understand the company delisted from NSX as it was about to be listed on ASX, code LSX
TEXON PETROLEUM LTD (TXN)	12 Mar 13	we understand shareholders were issued 1 New Sundance Share for every 2 Texon Shares held as at 6.00pm (Brisbane time) on 6 March 2013
CL ASSET HOLDINGS LIMITED (CLS)	08 Mar 13	we understand the company believed it was unsuited to the listed environment, its shares were thinly traded and it would save about $200,000 annually by not being listed (an Equal Access Buy Back enabled shareholders to sell some or all of their holding back to the Company for $1.40 per share and minimum holding buy back enabled shareholders holding less than a marketable parcel of shares to sell their full holding back to the Company for $1.40 per share)
HIRE INTELLIGENCE INTERNATIONAL LIMITED (HII)	26 Feb 13	we understand that the low level of liquidity, lack of institutional interest, inability to raise funds from existing shareholders and the costs of the listing were the main reasons for the delisting
REDLANDS COMMUNITY FINANCIAL SERVICES LIMITED (RDL)	15 Feb 13	we understand the company decided to move to the Low Volume Market on the basis that "the LVM will allow us, with ASIC approval, to voluntarily withdraw from the National Stock Exchange Australia (NSXA), saving significant costs for registration and other associated fees. This will also allow the Board to facilitate share trading of respective Community Bank share parcels. This does not allow the Board to set the share price or negotiate share price as an intermediary for the seller and/or buyer. Moving to an LVM will save shareholders commission and fees as charged by NSXA accredited brokers"
3Q HOLDINGS LIMITED (TQH)	12 Feb 13	we understand that the board believed the intrinsic value of the company to be understated by virtue of the small numbers of shares traded and that after a buyback of unmarketable parcels it should be delisted - there was a further suggestion it may later be converted to a private company
CORTONA RESOURCES LIMITED (CRC)	07 Feb 13	we understand Unity Mining Limited was successful with an offer of 0.734 Unity shares for each share you held in Cortona
L&M ENERGY LIMITED (LME)	06 Feb 13	we understand New Dawn Energy Limited was successful with an offer of A$0.06 per L&M Energy share and between A$0.0004 and A$0.0599 per option
BOWEN ENERGY LIMITED (BWN)	05 Feb 13	we understand Bhushan Steel (Australia) Pty Limited was successful with an offer of $0.05 per share
CGA MINING LIMITED (CGX)	05 Feb 13	we understand CGA Mining shareholders received 0.74 shares in B2Gold for every share they held in CGA Mining
CNPR GROUP (CNP)	31 Jan 13	we understand the proposed process for winding up of the company, the Trust and other entities in the former Centro Properties Group was outlined in the explanatory memorandum issued to securityholders in October 2011 for the restructure implemented on 22 December 2011

 

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Rubicon the Trojan Horse which brought Allco unstuck   2 Apr 13

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US investors fear new euro crisis             29 Mar 2013

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Capital losses on worthless shares 2012–13         28 March 2013

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Banking woes easing significantly Reserve Bank says   28 Mar 13

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SMSFs or ‘‘DIY’’ funds have potential pitfalls       27 Mar 2013

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Watchdog flags its fatal weakness: no teeth         26 Mar 2013

ASIC has been at it again, reminding us of what a weak and witless watchpuppy it really is.
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A bit more enforcing would help             25 Mar 2013

What do you tell a person who just lost their life savings in a managed investment scheme; a mortgage fund, a plantation scheme, a Banksia, a Westpoint or a Storm Financial?
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