iron ore spin off, page-23

"I will be interested to see how many Radar Iron shares we receive as part of the demerger and how many are retained by TRH (& therefore us indirectly via our TRH holding)."


Star, what are the chances that TRH keep the Shares as they do not mention in specie distribution in the Spin Off Announcement.

SO TRH shareholders (If they don't take offer in radar iron) are losing 47% of the Iron Asset. However TRH have to convert options at a cost so we are probably losing more than 47%.