Ann: Demerger of European Businesses, page-130

@Mr Goat

If you look at the assets of the Australian business after the demerger, it is not much more than a shell, and it may only be worth the value of its cash, with 1100.8m shares on issue, that would be approximately 1c per share.

the key components of ISX's balance sheet would become:
ASSETS
• A$6.6 million convertible note in ISXFEU
• 100% shareholding in ISX Financial Pty Ltd, a proposed applicant for various Australian business regulatory approvals (APRA, RBA)
• Legal claim against ASX for damages for misleading and deceptive conduct
• Cash of approximately A$4.3 million