FXX / LLL Demerger, page-22

Will like to add that the Pre IPO of LEO SP will be what it is valued as standalone and have nothing to do with FFX SP or MKT Cap

FFX, GF and the advisors will take ZERO consideration of FFX SP when determining the LEO pre IPO SP it will be based on its peers, jorc and the stage of development.

becuase....

• When you sell your used car, you dont value the car based on your wealth
• When a company sells an asset, the value is derived from its peers and what people will pay. BHP doesnt sell a coal mine and say we charge double becuase we are biggest miner in the world.