Since you've mentioned CDC, have a look at the ASX announcement when they were removed from quotation. That company is an absolute basket-case with a history of frequent and substantial breaches of listing rules. ASX does not take action on de-listing lightly...its a serious last resort following suspension from trade and failure to reach an acceptable outcome and if the company continually refuses to comply with listing rules.
The query from ASX was in two parts...first was about particulars of the Green Forest announcement, which JAT have now clarified. Companies like GSW have done far worse, facing class actions and not been delisted. That should be the end of it.
The second part about Li's role as a director was answered promptly by JAT. They are not ignoring their obligations to compliance of listing rules. In my opinion the ASX has questions about Li's validity to be a director, but ultimately that is a question for ASIC to address. Its possible that Li may face some kind of action from ASIC if he is in fact not eligible to be a director. But he is not the sole director, and at worst there could be a suspension of trade while JAT "cleaned house" with adjustments to the members of the board. If this happened I actually think it could be a good thing...it would restore some confidence in management and also give JAT some time in the background to (hopefully) bring some of these deals and approval applications to fruition.
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Since you've mentioned CDC, have a look at the ASX announcement...
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