There are two items that make clear what the end result later this month will be.
First item "Intevia earnings will be receipted where they ultimately achieve the highest valuation" and second
"It will assist TZL moving from ASX to Nasdaq"
This looks to me that there will be a swap somewhere.
Equity in TZL in exchange for Intevia's future earnings.
A Nasdaq listing will value these earnings at multiples that are unheard of in Australia. This will only provide winners. They talk about hundreds of millions of revenues. I remember that in the past royalties of around 35% were mentioned. Good for TZL and good for PE. Without Nasdaq valuation its difficult to put any value on Intevia.
Klaas
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