Ann: MMR: Proposed in-specie distribution - Update, page-25

I think you are confusing what the shares are. When they say: "MEC, and Advent and Asset have agreed a debt for equity conversion for the Advent Debt pursuant to which the total $872,288 of the Advent Debt will convert to equity in the Company, subject to Shareholders approval (Advent Debt Conversion)." This means they are giving away MMR holdings, not Advent Holdings. We know this because they are giving away "198,237,045 shares at a deemed issue price of $0.0044 per share (this means they are MMR shares not Advent Shares.)

I would be pretty furious if I was a MMR holder lol... further dilution before being re-listed.