The outcome of the ATO granting demerger rollover relief should be that no tax liability arises as a result of the demerger, and that the amount you paid for your ADY shares is split proportionately between ADY and RLL (based on relative market values) when working out any capital gain on a future sale.
As someone who deals with the ATO a lot it does not seem unlikely at all that they are holding up the process as this sort of delay is common. I can't see any reason why the demerger wouldn't get approval though, as there is clearly a good commercial basis for splitting the two businesses.
ADY Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
