whatever theoretical "revised price" ADIT come back with, the...

whatever theoretical "revised price" ADIT come back with, the consideration they will offer is still just their "paper".
why would anyone swap a theoretical paper of ADIT which is pretty much worthless, and give up YOW scrip which is backed by almost double cash, plus has a business generating real income??

you have to recognise, not only is the ADIT paper a theoretical value, but look behind that ADIT scrip, and look at their investments.
look at the performance of the Manager Aurora.
look at the performance of the wider Aurora/KBC group.
it is dismal.

also, you need to look at their performance and track record of redeeming the units. I am pretty sure that ADIT had suspended redemptions. or did recently.
any redemption request by a unitholder is dependent upon the amount of cash that is held by ADIT, and the views of the Manager, and the quantity of demands for redemption.
compare that with a ASX listed equity.

this attempt by ADIT of a t/o, is another attempt by that group to get hold of Yow and its cash, without having the cash to do it. Just offer paper instead.