It is very clear that the very reason for not keeping Biota on ASX is the issue of those free share options that were subject to BTA share price performance.
If kept on ASX via dualisting, BTA share price would still be there, and the merger deal would not be a "bought out" deal in Law. In that case, it would be hard for the management to justify the several millions of free BTA share getting vested upon the merger deal going through.
It is a very clear reson for not dual listing, though it may not be the only one.
Just my opinions
BTA Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
