Ann: Notice of General Meeting/Proxy Form, page-25

There is no other exchange. The new EU spin off will be an unlisted public company. Only if its ever listed again will the new spin off have a market price.

As the current ISX will remain suspended, its last quoted price of over 1b in market cap will remain until its delisted and/or insolvent.

However, the remaining Aus ISX is irrelevant if the demerger occurs due to all the value being transferred to the EU entitiy.