PEXA Listing, page-173

An in-specie transfer is the process of transferring assets without selling the underlying investment. This process is often used in transferring managed funds or shares. 'In-specie' is a Latin phrase meaning 'in its actual form. ' Therefore, a transfer made 'in-specie' is a transfer of an asset in its present form.

In layman's term it means when LNK lists PEXA, if LNK distributes its holding to shareholder - shareholders will get allocated some shares without having to pay for it out-of-pocket. Normally if ATO provides a ruling then the distribution will not be subject to Capital Gains Tax.

Hope this helps. Also refer to your accountant for tax advice