Ann: Completion of Sale of Colluli Interest, page-14

My take on this is, the company is worth around $202m post transaction, it is currently at $154m which means roughly 30% arb overall including the shell. I think the reason why it is isnt trading close to the price i.e .54-55 cents is because of suspension and distribution not happening until FY24. However, the suspension and distribution are independent events, the reason why it is going into suspension is because it doesn't have business activity post transaction and therefore has to either find another project or start a wind up process/distribute. The ATO ruling as someone mentioned earlier is procedural.

My understanding of this is, the shares will resume trading once they acquire another project using the 10% or less of the remaining funds but they can still proceed with the admin work relating to distributing the funds and hold shareholder vote etc.... The management team have arleady delivered ahead of schedule so I think it wont be as long as what some perceive.