Ann: Intention to Demerge Mt Edwards Nickel Project, page-19

It gives everyone choice. They are issuing in specie shares. Think of it going from your left to your right hand. You still own the asset, but it means that your NMT shares aren't diluted with a capital raising.

The advantages for me are
1) For anyone who only likes the Green side of the business only, then they can cash out on ipo, and buy more nmt
2) For anyone who knows where nickel is headed they can load up.
3) Either way there is no dilution of your nmt shares
4) Clears the books for ESG investments.

Well done to the NMT team. GLTAH