systematic sell down, page-21

Makes sense to me.
The big unknown is if the deal is signed what will happen to their 17% stake. All the signs are they will look to sell it. That would finally monetarise the asset; possibly a special div could follow. Much will depend on what specific detail is in the agreement and how near term Shell will commit to starting operations. Stand alone FLNG etc etc.

I'm not sure its right to extrapolate a $637m value for their 17% just because they could sell 2% for $75m. It could be much more or much less depending on the detail in the agreement and the fully evaluated asset.

Della Martina is quite well incentivised on sp performance. His total package amounts to 7.5m shares, vesting on positive sp performance.

I agree with those with the view that this market is not in the mood to give full value to assets that will not turn into cash for several years.