Ann: Special dividend - in-specie distribution of LIS shares, page-16

PPK is theoretical undervalue due to holding large chunk of LIS. Because PPK can't just simply sell LIS to realise its value, so BOD decided to distribute some LIS to SHs as special dividends to keep SHs happy, at the same time the sold LIS out (letting SHs deal with LIS on the market). It is smart move but LIS will be under pressure once SHs of PPK start to sell. Due to the undervalue status and 25m shares of LIS is insignificant, its share price might not be affected much after ex date. If this was the case, they might keep distributing LIS to SHs in the future.