Ann: RIL: Sale of Forrestania - Extension of Closing Date, page-17

You’ve got it backwards, Reed would own 60%. However at the rate CLZ issue shares it could be down to 40% very quickly.
What I do know is that any current holders will be valued at least 60% less the minute those 500mill shares come on market, so I expect this to track down to .001 very quickly.
They will need to raise more cash at ever declining stock prices just to pay the cash component for this deal which will soon equal billions more shares. What a farce.
Anyone currently buying, good luck getting anything back!