Ann: SolidTrustPay Agreement, page-52

The devil is always in the detail....particularly for back-door listings...

People should be aware that they're not buying a share in a company with 263m shares on issue ($32m MC) as there are in fact 640m shares in escrow (half ordinary (i.e.  no upside) and half performance (i.e. some upside))
http://www.asx.com.au/asxpdf/20150312/pdf/42x787tlm8hfbx.pdf

This has the effect of diluting one's shareholding by 2-3 times depending on performance....or in layman's terms the company is 2-3 more expensive. This is fine if people think this is a 10-bagger.

At least ISX had the common courtesy themselves of highlighting this to analysts recently (refer pg 3)...although the MC number only factors in the ordinary and not performance shares...understandable given assumptions required but presentation is mischievous
http://www.asx.com.au/asxpdf/20150421/pdf/42y087bmzt086n.pdf

Good luck to holders