Not sure if you have interpreted it wrong or not, I hadn't noticed it but good pickup. It raises a somewhat interesting but concerning thought.
Imagine if they stitch us up and SM owns the plant.
Wouldn't leave much left for us shareholders after LPD pays a royalty to SM for the tech from the Royalty they get from SM's chemical plant.
The big winners would end up being the shareholders of SM, and we all know who they are.
Imagine the class action and uproar if this was the reason for our convoluted setup.
Why are we seeing "technology royalty to LPD"?
There's something we're not being told.!
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