Yeah - a revaluation of the underlying value of the assets (and here we have a third party validation) can be readily reflected in the number of shares held by FFX in LLL - particularly while it holds all those shares. Once it holds x number of LLL shares it is able to distributte any or all of those shares - as a capital return to its (FFX) shareholders.
As you say, we will (hopefully) know all the gory details.... soon?
FXX / LLL Demerger, page-67
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