You are really clutching at straws "circulated....... to...

You are really clutching at straws "circulated....... to selected individuals" you have no idea how bonds work. From my reading of this is that the bonds are listed outside Australia and for the money to transfer internationally there needs to be certain institutions made aware of funds transfer eg ASIC/ASX/banks etc because an IISN has to be proved and set up FIRST. Of course ASX will know and justifiably asked questions.

To me the mechanism has been set up and Settlement will be the physical transfer of money to accounts as stated. "Shareholders treated like mushrooms" again the notice states they are in compliance with ASX regs etc. You are just a non holder stirrer.