merger calcs!, page-9

There are many factors which will determine the split,to name a few:

? 70/30 project ownership
? cash on-hand/assets
? liabilities
? Padbury shareholders are entitled to some benefit from the 35m AGU holdings
? potential future dilution from outstanding options

In the absence of professional advice, I think it's a waste of time trying to work out the split. Best off waiting for the experts to do the valuations and then discuss their recommendations.