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Also, the level of ownership in the demerged entity for the CEO...

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JoeGambler

7,454 Posts.

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01/09/21

13:20

Post #: 55748226
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Originally posted by LongNWrong: ↑

I think this is a really interesting point. Release says nothing about approvals, for the demerger but the assets aren't likely to be anywhere near sufficient if ISX were to lose one of the many court cases and cop costs. As such I can imagine objection from ASX, ASIC etc. I can't think who'd be required to rubber stamp this but I'd suspect that could be an issue.

Before I get called a downramper I'm only saying IF they lose but you can bet your bottom dollar that there will be parties out there looking to ensure that the entity in the court cases isn't just a shell. Look to some of the issues with companies with an asbestos liability as to what can happen to protect claimants.

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Also, the level of ownership in the demerged entity for the CEO and family will be the same as ISX now. However, the legitimacy of some of that ownership (perf shares) is subject to ASIC litigation. Why would ASIC allow demerging the vast majority of the value of ISX into another juristiction, and let alone subject to the same ownership structure under serious question?

ISX Price at posting: $1.07 Sentiment: None Disclosure: Not Held
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