How a demerger and IPO affects existing shareholders, page-49

Yep - many different models which no doubt are the correct (or incorrect) model when taking into account all relevant facts and circumstances. Here I’d say that those commenting on HC don’t yet have all that information.

So, in the spirit of more hypotheticals to consume time (while those in the know progress to add value to our LTR assets), what if you had a handful of amazing business proposals, all of which have likelihood of being successful (some maybe more advanced than others).

You want to progress as many of them as possible to reap future returns from them but you also need to finance development of them. Do you:
a) take on significant levels of debt at whatever best rate you can obtain and then kick like crazy to get proposals developed so as to pay back the snapping hounds;
b) sell equity in your entity to raise the required funds but in doing so reduce your percentage take on future returns;
c) do a little of column (a) and a little of column (b) to develop some proposals to a point that they are sufficiently derisked that someone else would be willing to take over that project by buying it from you for good coin that you then plow into one or two of the other proposals;
d) do a little of columns a, b and c but get into bed with another entity which is cash rich and keen to get some action with you so together you develop the proposal (and then when you’re bored of that relationship and/or someone comes along wanting your slice of that pie more than you, you do the rest of column (c)); or
d) hang out watching a bunch of relative amateurs and unknowing members of a public forum throwing out “non-advice” and ideas and let those ideas guide your next steps (oh and forgot to mention you’ve just also brought into your entity a recognised expert in this field of development, management, sale and partnership).

Which option would you take and why?