The elephant in the room: MCL's listing Poll, page-44

An IPO would most often see a private company become public (not always). The private shareholders would be compensated in the float for their shares by the receipt of shares in 'new' company. Come June 30 this year, it would seem to me that (if no float occurs) QBL's 55% current holding in MCL would be a controlling interest, and all of MCL's income and assets would be reflected in the accounts of QBL (Consolidation Accounting). Interestingly, should MCL float and QBL sell their shares, QBL would become cash rich, which may see their SP stable for a short while, but - long term- what profitable projects would they have? Also, it seems to me that the most likely outcome would see QBL's 55% holding in the 'old' MCL converting to a 55% holding in the 'new' MCL. Hence nothing would change in terms of control of MCL. My thoughts only. DYOR & DYOR