Could you please tell me why the offer was "flat out laughable"? There was absolutely no disadvantage to ASX in accepting the condition - i.e. if ASX suspended ISX again after accepting the escrow and therefore the shares came out of escrow, those ISX shares would be in exactly the same position as they are now - tradeable off market with ISX suspended. IF ASX was in any way serious, it would have at least tried to negotiate a procedure around any possible future suspension while the shares were escrowed, for example, setting up a process for examining reasons for suspension by an independent investigator who would determine if it was reasonable or not. I would pick Clayton UTZ for this job.
I do not find ISX's offer "flat out laughable" considering my distrust of ASX and as I am sure ISX also distrusts ASX. Once ISX escrowed the shares and the shares were allowed to trade, all ASX would have to do is find another reason to suspend the shares and the founding shareholders would be in a worse position than they are now. It is also important to note, that no director or related party of ISX has sold any of their shares in ISX, whether purchased or awarded for performance.
Clearly, ASX has no intention of allowing ISX shares to trade.
