Thanks mate, what you have explained is exactly how I understood it too. The only thing that would need to be incorporated would be to split out the inspecie distribution cost of the free Demetallica shares from the cost base price. I am assuming there would be some kind of ATO tax ruling around this. Happy to be corrected if my assumptions are incorrect.
Ann: Notice of Change of Interests of Substantial Holder for MEP, page-42
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