Is this incorrect or misleading or am I confused?, page-5

Hi Trommel, thought you had me on ignore, oh well. Anyway, yes I did put the third option out there but was hoping you could explain why I am confused. Nobody has yet pointed out how the govt can have a 5% shareholding in the project yet MNS claim to own 100%, I would have thought there were only a further 95% shareholding available.

Thanks