1/ short answer you can't. All you can do is have as many FFX as possible prior to the Ex date & apply for as many as you're allowed in the entitlement offer. Once the ex date for both the entitlement offer & the in-specie distribution has passed you can sell FFX and still get your LLL shares. Those dates may be the same or different, we don't know yet.
2/ See my previous post, We just don't know how the market will react - it's a bit like asking what you think the share price will be next week. Best you can do is have a market cap in mind for FFX, ie what you think it's worth without Leo. Taking into account it's cash, 20% holding in Leo etc. If on the Ex Date FFX trades below that figure & you're looking to exit the Gold side, it might be worth waiting for things to settle down before selling. There will be bargain hunters out there, the same applies in reverse, if it trades above what you think it's worth & you're looking to exit, then go for it, you'll still get your LLL shares.
3/ The FFX SP will probably increase in the lead up to the Ex date. If it increases a lot, it'll probably drop a lot when it goes Ex. In theory your holding in FFX + your LLL holding will be worth more than the price prior to going Ex - just depends on how much the SP gains in the lead up. Remember too, LLL won't start trading for at least a month after the Ex date, so Lithium stocks may go up or down during that period. having said that remember LLL will be IPO'd at a discount - you can reasonably expect the shares to trade above the issue price.
4/ That's what the entitlement offer is. We don't know the details yet, just that FFX expect to keep 20% of LLL, and they are provisioning $10m to stop their holding being diluted with the IPO raise. That implies they are raising $50m with the other $40m being offered to FFX shareholders based on the number of shares you own.
5/ For the in-specie distribution you probably won't have to do anything - they'll work it out based on the number of shares you own. For the entitlement offer, you'll receive an application form very similar to the SPP forms, you'll need to Bpay what your entitlement is - but not compulsory.
FFX Price at posting:
70.5¢ Sentiment: Buy Disclosure: Held
