Any split of assets would not happen until RLL is demerged. First they have to announce the egm. Then shareholders have to vote on it. Then the demerger date gets set. Then the demerger happens and the assets get split. Meanwhile the refiancing gets done via a JV or new loan etc. It is likely the demerger announcement will provide a boost to the ady sp because of the RLL Lithium factor. That puts ADY in a much better situation for getting funding via a converting note. As stated, RLL can be financed via a forward contract or rights issue. So plenty of scope for moving forward.
demerger, page-14
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