Are shareholders now thinking that maybe it would have just been...

Are shareholders now thinking that maybe it would have just been easier to list MCL separately? The difficulties in complying with listing rules is proving a major road block so far IMO.

At the time it looked to me a 'no brainer' (spin it out) but some on here screamed they'd lose their valuable holdings in the wash-up of a new company listing. This didn't make sense to me as new shares are distributed proportionally to their parent company holdings? Certainly in every other one I've seen anyway.

But now look at the situation; lengthy suspension, complications in the 'Offer', no ASX/ASIC approval and no clear end in sight (?).
With every supplementary prospectus there's probably a new wave of capital refund requests. When do they say they're at the point of diminishing returns? That old business principle that signals the end and time to cut and run, change tack, whatever....*sigh

All my musings and DYOR..