FXX / LLL Demerger, page-27

@vin123 If you hold FFX shares at the Record date, you will be entitled to participate in the Entitlement Offer.
FFX have said there will be an entitlement offer (LLL will need funds) and you'll see the details of the offer when they release the Prospectus.

They've said the offer will be pro rata, the $30k you mention is the maximum under a SPP - this is different, your entitlement will depend on how many FFX shares you own. They haven't said how much they'll raise, but did say they set aside $10m so their 20% holding isn't diluted, implying they'll raise $50m

If that's the case, $40m will be offered to the shareholders holding 1.178 billion shares
That works out to about 3.4c worth of LLL offered to you for each FFX share you own

I believe they intend doing the demerger/in-specie distribution first, so they'll release a short form prospectus for that, the actual Prospectus will need to be released before they do the Entitlement offer & list.