Good Drinks (GDA AU): Last Call

• Yesterday morning (29th October), Aussie independent brewer Good Drinks Australia (GDA AU) proposed a voluntary delisting from the ASX. Shares promptly closed down 26%.

• Such a proposal requires a special resolution vote. And no shareholders are required to abstain. There will be no cash alternative.

• Shareholders can either choose undervalued, illiquid shares under the transparency of the ASX; or an uncertain unlisted environment in which the board believes it can realise superior value.