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if drop until 0.005 won't be delisted..it will stay that price.. unless company is making loss, and can't repay debts, then company will enter PN17 status, if they can't solve the financial problem in a period of time, then only will be delisted.
after delisted, depends on company value, do they have properties or cash in hand. Net value minus debts, if got balance, that will be given back to shareholders
Delisted means shares of the company no longer trade in exchange. The company will still exist after delisting. If you still have the shares before delisting, you are still the shareholder.