dreamwaverider on spin off

Could any of you please explain in simple terms the basics of this spin off??
NORMALLY, THIS MEANS A PARENT COMPANY SPORNING OFF SOME OFF ITS ASSETS INTO ANOTHER LISTED VEHICLE. THE PURPOSE TO RELEASE A GREATER VALUE THAT IS EITHER PRO RATA GIVEN BACK TO SHAREHOLDERS OR A LARGE CASH INJECTION FOR SAME THAT STILL BENEFITS THE PARENT CO. COMPANY SHAREHOLDERS. WRONGLY IN MY OPINION, THAT IS NOT THE CASE OF WHAT IS HAPPENING WITH GIP EITHER WAY. ACCORDINGLY MAY UNHAPPY SHAREHOLDERS.


Do we (gip ) end up with any part of the newly formed spin off company??
YES, BUT SO SMALL & UNKNOWN, THAT IS WHAT THE STINK IS ABOUT. WE OWN IT, DIRECTORS ARE GIVING IT AWAY SO CHEAPLY, & TO CONTINUE PARTICIPATION WE NEED TO PAY MORE FOR WHAT WE ALREADY OWN. IN ESSENCE " NOT A FAIR GO " OR SAID ANOTHER WAY, " ALL BACK TO FRONT "


How much do we get for it??
A PATHETIC $A800,000 CONSIDERATION EXPRESSED AS 4,000,000 SHARES IN A NEW LISTED COMPANY AT A DEEMED 20C. FOR A JORC COMPLIANT, WORLD CLASS ASSET DEEMED BY DIRECTORS SEPT.2010 AS UNDERVALUED BY THE MARKET.........$800K IS NOT SIGNIFICANT COMPARED TO THE MARKET CAPITALISATION OF GIP.

What exactly is being 'spun off'.
40% OF HEEMSKIRK, LARGEST KNOWN UNDEVELOPED HARD ROCK TIN RESOURCE IN AUSTRALIA ( $800,OOO ) AND LARGE EXPLORATION RIGHTS IN ERITREA FOR $4.4MIO. EVEN THE FIGURES DON'T ADD UP.

Does spin off mean 'sold ' in normal speak??
YES.

Thanks in advance.