Round 2 ISX vs ASX, page-780

Still not following @A4paper. As I understand it, Shares on Issue (SOI) is the same now as if ISX was trading. Unless there is something I am missing, the only thing that impacts SOI is whether the performance shares are valid or not, and if they are eventually found to be not valid, each share could potentially be worth more. What, then is the risk in this?

I would think that if the market is informed that the Shares on Issue could be potentially less 366.7m shares, this risk could be factored into any decision. Or is the risk created somehow for algorithmic trading where no human thinking goes into the decision to buy/sell?

Happy to be educated.