There are various ways to do a dual listing, ADR could be one...

There are various ways to do a dual listing, ADR could be one where no dilution is possible; migration of shares from from ASX to NYSE (or other boards) can also be non dilutive. It is often a question of how liquid the shares will be after the move. An example (not totally similar to ASX ->NYSE) would be like the recent dual listing of CIVMEC from SGX to ASX. CVL.AX is practically dormant here. The other way of course is issuing more shares in NYSE and that will cause dilution to existing holders.

I would see your question (concern) about dilution is this: We have Ron Lauder and Richard Irving holding a big chunk of the company and are owner operators. Their interest and ours are somewhat aligned in terms of the dilution issue, there must be a good reason if they are willing to let their own holdings to be diluted too.