The way I understand it is that no Australian shareholders will...

The way I understand it is that no Australian shareholders will need to move their stock to Frankfurt.

European investors who want to own MEM stock will have to purchase “depository interests” (equivalent to Australian CDIs, or to US ADRs), issued by MEM, on the Frankfurt exchange.

A nominee company will then purchase (or will have already purchased, to some extent) an equivalent number of MEM shares on the ASX, through a local broker, and will hold them on behalf of European depository interest holders.

From a legal perspective, the nominee company will be the sole owner of those shares, but the depository interest holders will have beneficial ownership of the securities, i.e. will be entitled to all the corresponding economic benefits (such as dividends, etc.).

All IMHO