Ann: ASX Update on status of ASX Directions, page-468

I think you know why @LongNWrong, but in case someone else does not:

Many people seem to forget that the offer to escrow shares has been made not by ISX but by the founding shareholders in the hopes that ASX will allow ISX to trade. It was made because the shareholders believed that ASX had a concern that these shareholders would sell their shares if ISX was allowed to trade (and run off with the goods....). It has been offered in good faith by these founding shareholders - and topped up by JK with his own shares where non-directors have sold shares. It is notable that no director has sold any shares to date - those provided at the point of purchase of ISX BV by Otis Energy, purchased since that time or earned as performance shares.

ISX has put conditions on the escrow simply because experience has indicated to ISX that ASX can not be trusted to do the right thing. ASX gave ISX only a few minute's notice before suspending ISX on 2 October 2019. ISX founding shareholders are concerned (validly in my opinion) that once the shares are escrowed and ISX is trading, that ASX will just suspend for some other nebulous reason as has been done for the current suspension. It is my belief that if ASX and ISX could come to an understanding on the basis of any future suspension (perhaps it could be done only with ASIC's recommendation or approval), an escrow deal could be achieved and we could trade.

There is a valid question of whether the machinations that are currently going on regarding demands ASX is making of ISX have more to do with the court case than shareholder rights and whether ASX has an inability to separate information that the market might justly have the right to know from what ASX feels ASX needs to know in order to defend a charge of false and misleading conduct.