But if EXS did make a scrip offer:
1. IVN would end up owning a large % of EXS
2. There would be an even larger pool of funds for development of the IVA/EXS assets
3. IVN would then end up having their Australian assets all within the EXS entity which was the original plan, prior to the IVA listing
I am not stating that EXS are going to make an offer.
But do not assume that IVN would try to block any such offer.
But if EXS did make a scrip offer:1. IVN would end up owning a...
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