Ann: IHL Intends to Redomicile to US & List all Shares on Nasdaq, page-284

Great questions mate.

1. The exchange that has the most liquidity... ASX currently ...rules the price
2. The initial intention was for the Nasdaq to rule the roost in terms of price, for the lack of ASX holders keen to move their holdings over to the NSD.. meant it failed..... Confirmed by Joel yesterday (also costs to convert are not attractive)
3. There is no incentive for Big US companies to buy on the ASX and convert to ADRs for trade on the NDQ under the current environment with the ASX holding the command over price. (cost to convert too is not attractive)
4. The way parity works is that at the end of each NDQ session, the price (NDQ) is brought back into line with the last price on the ASX. Arbitrage traders make their money this way..
5. As alluded to by Joel in the announcement some US companies cannot buy stocks that are domiciled outside of the US.

"Certain investors in NASDAQ stocks to have restrictions that prevent them from investing in non-U.S. securities or packaged ADR (American Depositary Receipt) securities.
These restrictions can arise due to various factors such as regulatory requirements, investment policies, or the specific investment objectives of the investors or investment funds.
For example, some mutual funds or exchange-traded funds (ETFs) may have a specific focus on U.S. companies or may be prohibited from investing in foreign securities.
Similarly, individual investors or institutional investors may have investment guidelines or mandates that limit their exposure to non-U.S. stocks.
These restrictions could be driven by a variety of reasons, including risk management considerations, regulatory compliance, currency risk aversion, or simply a desire to focus on domestic investment opportunities.
Investors and investment firms may choose to impose such restrictions to align their investments with their preferred strategies or risk tolerance levels."

For these reasons, the BOD is proposing we side-step dealing on the ASX so that we are not held back any longer versus our comparables in North America who have enjoyed higher investor expectations more recently than here in AUS.

As for Aussie investors sleeping whilst the Trading is going on...I am sure I will be checking my phone during the course of the night...like most of us.. but the focus will be turned to the USA with some trial results/updates from 45 Trial sites for IHL-42X and PSI-GAD results in the New Year. I am pretty confident that these events will have a positive effect on new US investors and our Market Cap.

Good luck @Doggo04