Perhaps I can clarify your questions above from my perspective,
I'm not a lawyer. But I'm also a German shareholder of FFX and maybe there are others here on board.
Basically, there are many international offer restrictions for demerger & offer of LLL shares. Therefore legions of lawyers have to rack their brains to get this sorted out. So
all shareholders here on board do not wonder, why it takes so long, it's no easy matter, you know !
So from my understanding: When FFX intends to demerge and offer LLL shares in European Union, they must observe the european guidelines for the issue of securities and normally have to issue a prospectus in all of these countries, where they have shareholders.
That's why they observe in their "Leo Lithium Demerger & Offer Briefing" all restrictions in "Appendix C" for all countries.
For all countries of European Union there are the regulations "EU 2017/1129 of the European Parliament and the Counsil of the European Union".
So in accordance with article 1 (4) of that regulation an offer of shares in each member state of EU is limited
without prospectus (!!!) only for these exemtions
-
an offering of securities directed solely at qualified investors> that means only professional investors, so no retail investors like you and me
-
an offer of securities addressed to fewer than 150 natural or legal persons per Member State who are not qualified investors> that means in my understanding, if FFX has no more than 150 shareholders in Germany as one of those member states, all these shareholders can participate
without needing a prospectus
But I do not know the number of SH in Germany, so you have to adress this question to Danika from FFX I guess.
Or try this from their website: "If you have any questions in relation to the Demerger or Offer, contact the Information Line on 1300 850 505 (toll free within Australia) or +61 3 9415 4000 (outside Australia) between 8:30am and 5:00pm (AEST), Monday to Friday".
Hope this helps for all foreign investors in EU, so stay strong and above all
stay here on board of FFX for our golden and lithium-rich future !! 
