The "free allocation" is an In-Specie Allocation meaning your shares are essentially being transferred in its current from one asset or company to another. So basically whatever LLL is valued at you will get an equal distribution based on your current holding and then FFX will most likely drop to whatever makes up the difference between the current MC at the time and what LLL is valued at.
With the IPO offered to current FFX holders that will be relatively small. I believe roughly around 3.3c for each share you currently hold In FFX.
So the best way to acquire LLL is be holding plenty of FFX up until the demerger date. IMO
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