Ann: STX: Strike to acquire Talon, page-193

As for the spin-off.

Looks like we each get to retain the same exposure in the Spin Out Vehicle (providing TPD can set it up in time).

The Spin Out Vehicle will have

• Our Mongolian asset; and
• A$850,000 cash (less any costs incurred in connection with the demerger and certain other costs and funding provided for the Mongolian assets by Talon during the Scheme/demerger process) via a potential spin-out of those assets into a separate vehicle

It will trade at the market price for that (which I think will be bugger all).

The Spin Out Vehicle will need to pay corporate costs etc etc so I can't see it lasting.

TPD better off trying to sell those assets now.