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Rare Foods Australia Limited (ASX:RFA)

ALERT: Price-sensitive ASX Announcement for RFA
Current share price for RFA : $0.005 -0.011 (-68.75%)+
Announcement
Release
20 Mar 2025 9:20AM
Price at Release
$0.016
Full Release
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Summary
Rare Foods Australia Limited (RFA) has formally applied for voluntary delisting from the ASX due to declining global demand for seafood products and increasing operational costs. The company believes that maintaining its ASX listing incurs significant expenses and hinders its profitability. The delisting process requires shareholder approval, with a general meeting scheduled for 29 April 2025. The company aims to streamline operations as an unlisted public entity, while continuing to maintain governance and disclosure obligations as per the Corporations Act.
Key Points
  • RFA applied for voluntary delisting from ASX.
  • The decision is due to declining demand for seafood products and high operational costs.
  • Shareholder approval for delisting is required, with a meeting set for 29 April 2025.
  • Maintaining ASX listing incurs costs of approximately $735,000 per year.
  • RFA seeks to operate as an unlisted public company to enhance shareholder value.
  • Post-delisting, shareholders will need private arrangements for share trades.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.