There is no way that the shares will disappear and that you will be left with nothing. We own common shares in the company. Those common shares represent a percentage ownership in the company. A company can choose where it lists it's common shares and on which market. The company has previously listed it's shares on the OTCBB and more recently on the pink sheets. These markets are generally loosely structured with minimal corporate governance rules. The company can choose at any time to move it's shares to another market, so long as it meets the markets listing standards. You see it all the time with companies moving up to the NASDAQ from the OTCBB. This move is not any different. The shares you currently own will then be traded on the ASX when they complete the move. You will still have your shares.
It's also possible that they keep the listing they have here on the Pink Sheets and have an offering of additional shares that are listed on the ASX. It's too early to tell at this point.
To answer your other question, yes it's possible to trade and own foreign listed companies. I own another ASX listed company, Sundance Energy, SEA.AX, that also has it's shares listed on the Pink Sheets under the symbol SDCJF.PK. They are actually looking to upgrade their Pink Sheet listing to higher exchange here.
Hopefully this has helped. Please let me know if you have any other questions.
Swick
AI
