No PP I don't have any info, just speculation on my part on...

No PP I don't have any info, just speculation on my part on avenues that FKP may take, if they needed to.

I find it interesting to say the least that DG is resigning to pursue interests outside FKP whilst he is being considered for a future senior position within FKP once again. Huh?

To realise the full value of the retirement assets and development pipeline in a depressed market, a spinoff maybe the best way forward rather than allowing SGP to pick them up on the cheap.
Who could head up this company?? Or, could they merge their retirements assets with another company and if so who would head up the enlarged business.

One fact is that FKP gave SGP "the first right of refusal"- not "the first right of offer"- and thereby signalled that at some point in the future, they may be willing, or may need to, sell off the retirement assets to SGP if there were no alternative.

If they can't realise a good price through SGP right now, then other avenues would be considered, hence a merger or spinoff and this would need someone to head up the business. FKP would of course retain a significant interest in any new venture while maximising returns and warding off a lowball offer from SGP. They would insist on representatives from their own board and maybe even some of their ex management?

Who knows- it's pretty sh!tty that companies are allowed to write stuff like that yet keep their own shareholders in the dark.