Good post, andrews. chinesewhispers could probably answer this, but I don't think SI's are considered "shareholders"- they seem to be something else/have some other status when they do placements. Tat's why people talk about placments and free options to "mates", etc. There are loads of times when SI's are given free options, but regular shareholders are not.
Look for "in-specie" shares in the spin-off. Then you're in business.
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