Spin Out Company Shares for Holders, page-7

Assuming that the Firefinch’s share of Goulamia is valued at the price Ganfeng paid (=A$170m), then FFX sharehodlers will receive 80% of that = A$136m = 16.5c per share if Spinco has the same number of shares as FFX (ie 35% of current market cap).

Another way to look at it is, if current valuations remain unchanged, then for every $1 you hold in FFX, you should receive Spinco shares worth 35c (and FFX‘s value will probably reduce by the same amount). Hopefully though the value of both companies will rise.

Cheers, Nic