This is most ridiculous RTO i ever seen! current holder right...

This is most ridiculous RTO i ever seen! current holder right shrink to 11% of the new relist company with huge financial loss being invested on ODN then on which ODN become a gold mine for a small group! what a wonderful story and lesson!

Is current directors are controlling Austasia the "takeover target" or I have misread?

Below are picked from above Prospectus and only go through to page 15 with so many why??

Sections 2.2,2.3,2.4, 2.5 and 8.3

In addition to the Public Offer, this Prospectus also contains separate offers to:
• the Austasia vendors (or their nominees) for the issue of 89,750,007 Shares and 110,002,349 Performance Shares in consideration for the acquisition of all of the issued capital in Austasia (Austasia Vendor Offer);

Total issue to Austasia: 89,750,007 + 110,002,349 =199,752,356 shares, at new issue price of 20c each then these share already worth up to A$39.95m
Just wonder how many shares are belong to gridComm? or gridComm=Austasia?

Current Directors  

Alex Bajada (Executive Chairman)  
Roland Berzins (Non-Executive Director)  
David Ballantyne (Non-Executive Director)

Proposed Senior Management (upon completion of the Offers)
Michael Holt (Chief Executive Officer)  
Company Secretary
Roland Berzins

And Who are the Austasia Vendors?

The Austasia Vendors comprise either the founding shareholders or seed investors in gridComm or parties that have otherwise been involved in the development of the gridComm business model, as well as parties who have assisted with facilitating the Austasia Acquisition with the Company.

the Austasia Vendors include the following parties who are related parties of the directors:
(a) Spartan Nominees Pty Ltd (ACN 099 822 081) as trustee for the Spartan Super Fund, which is an entity controlled by Alex Bajada, a director of the Company;
(b) GCP Capital Pty Ltd (ACN 161 764 647), which is an entity controlled by Alex Bajada, a director of the Company;
(c) Sandgroper Pty Ltd (ACN 065 049 032) as trustee for the Modillion Discretionary Trust, which is an entity controlled by David Ballantyne, a director of the Company;
(d) Roland Berzins, a director of the Company, and his wife Carol Berzins; and
(e) Sealblue Investments Pty Ltd (ACN 133 164 726), which is an entity controlled by Roland Berzins, a director of the Company

I did like ASX and ASIC going to block this prospectus again and I only loss $8k investment on ODN!
Good luck to all!