My experience of demergers / spin outs or whatever one might...

My experience of demergers / spin outs or whatever one might choose to call it, is that generally in specie shares are given to shareholders together with an offering to apply for more shares at a specified price.

In this case I believe it is a masterstroke because nobody knew the value placed on the shares until such time as ASM listed and then the share price was determined by the market with buyers in abundance wanting part of the action.

Will be interesting to see the markets reaction over the next few days.
Well done by Nic and ALK board and all ALK shareholders, even those that may have sold all or some of their ASM shares today.
What a pleasant surprise and gift for all, and a magnificent way of unlocking latent value.