They both will get shares in LPI, whoever holds shares in LPI before the demerge will get pro rated amount in the ipo.
LPI will now have 57.9% of whatever is demerged. Management has given away something worth several hundred million at peak future potential. Call that lack of foresight or something to sweeten the deal to get the extra few percent on Maricunga, it’s pretty much a done deal.
They could also add a clause and seperate the demerger exclusively for the 57.9% of original LPI holders but I doubt it.
LPI Price at posting:
38.5¢ Sentiment: None Disclosure: Not Held
