The most interesting bit to me by far.
![https://hotcopper.com.au/data/attachments/2886/2886552-b5d115b11f2504fe8b9c697e7dab43ca.jpg](https://hotcopper.com.au/data/attachments/2886/2886552-b5d115b11f2504fe8b9c697e7dab43ca.jpg)
I'll be voting no on this unless there is a clear development partner lined up previous to the demerger.
Without that the new company is both a sitting duck, and a beggar.
If there is though....well. Undervalued doesn't describe it by half.
Interesting times.