IMO - all the discussions about "should we have gone into TH originally, and continue to be in TH, etc" is kinda counter-intuitive. It has, unfortunately - or fortunately - happened. Only thing we can influence and change is the future.
Trying to thinking of whether or not it should have been doen and what could have been done will just make you more stressed - imo.
My big question is - if there was a 'short attack' on AVZ causing the TH - would that not constitute market manipulation? Particularly if there was a distribution of misleading or fraudulent statement. if so - what is AVZ going to do in respect of this?
From ASIC:
Fact check with the target entity
Authors of short reports should check their facts with the target entity to identify and address errors before the release of a short report. This may provide the market with greater certainty around the issues raised. It also reduces the risk of the market being misinformed and helps to mitigate the risk for the activist short seller of making false or misleading statements.
Consider possible breaches of listing rules
The listing market operator should consider the issues and concerns raised in a short report, together with the target entity's response, to form a view of whether any listing rules have been breached and whether investors may have been misinformed by previous disclosures by the target entity. Should any breaches be identified, the market operator should take appropriate regulatory action – for example, by seeking additional disclosure and referring the matter to ASIC where warranted.