Not quite - the buyer is a contractor but not owned by McRae...

Not quite - the buyer is a contractor but not owned by McRae AFAIK. However there are effectively two vendors here - TI1 (partially owned by McRae) and Colomi (partially or possibly fully owned by McRae - don’t have the details). Now if Colomi happens to be fully owned by McRae, that would mean that it would be favourable to them if net benefits from the deal are skewed towards Colomi rather than towards TI1. In order to mitigate the risks associated with this, the TI1 Chairperson and independent directors would then have the role of ensuring, from a governance perspective, that the deal is in the interests of all TI1 shareholders.