Not Necessarily as I understand...

Not Necessarily as I understand it.
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Mark Smyth statement previous statement to me:
"Shares are readily switched between the US register and the Australian register : the registrars are the same company Computershare
Put your shares on the Australian register and qualify for participation"
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Clinton Joseph on the Loyalty Shares
"I have been waiting for confirmation on this (Loyalty Shares), and yes it is offered to North American investors. I have attached the procedure need to participate. My understand of the procedure is that you have to transfer you existing shares to the ASX. I am waiting for clarification on this."
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I've put this to TD Waterhouse for their take on the matter. They are concerned.
If this is the position City takes on the matter, they'll put the Nasdaq listing in a mess.
The wording of the Loyalty Shares suggests those on the company register, not the ASX register.