Ann: India Project Update, page-169

To clarify, ECT retains the right to licence pre-existing Coldry IP in Australia. This means we do not need permission from the SPV to issue a Coldry licence here in Australia.
In relation to Matmor, we state in the same update (19 Nov 2018):
“Any future use of the Combined IP (that is, pre-existing IP together with any new project IP) will require a licence to be issued by the SPV and will be royalty bearing under the Global Royalty Share Structure.”
“All royalty income generated during the R&D Phase, and under the subsequent SPV License to ECT, will be distributed in proportion to each party’s shareholding in the project SPV.”
As such, the SPV can issue a licence for Matmor projects in Australia and revenue will be apportioned according to shareholding (49% ECT).

So we don't own the Australian IP.. Well we do for pre-existing Coldry, not Matmor... This keeps just gets better and better