Ann: Share Sale, page-12

As I said, the purpose of the demerger (at least in my opinion) was, first and foremost, to hive off some cash so directors could keep getting paid should Warro go belly up or get sold. That cash, now paying wages to the board of the de-merged entity and very little else, would come in very handy for the Australian operation if they need to cover some fraccing costs in the future.