kudos to kuro, page-49

DW,

The shares are not "freebies". We currently own the asset and are spinning it off so we can raise cash and operate the asset separately to our core business of developing Groundhog.

I repeat, it is not a "freebie" and should not be looked upon as such.

As for escrowing the "freebie" shares, I do not see how this can be done legally. A company cannot spin off an asset and then tell those who currently own the asset that their shares no longer rank equally to the new class of shares that are being issued in an IPO. If I am wrong then can someone please direct me to the part of the corporation act that deals with this scenario.