FXX / LLL Demerger, page-63

"I always wondered how FFX would participate in the Entitlement Offer when they obviously aren't shareholders in their own company - now we know."

Sorry - why are you confused? The LLL company before demerger will have a suitable number of shares 200m, 250m or 500m.... All of which will initially be held by FFX. They will then distribute pro-rata 80% of those shares to all FFX shareholders at the entitlement date (leaving FFX with 20%). Then LLL offers a CR of seemingly $50m to all LLL shareholders again pro-rata to all eligible LLL shareholders (hence the need for a prospectus) - including of course, FFX. That's it! ...simples. T

hat has always been my understanding. Now as for CR oversubscriptions and/or placing any shortfall - who knows?