I understand the SpinCo announcement stated that 15% of the shares in SpinCo will be retained by Tawana, and that all TAW shareholders will receive shares to the same percentage as they currently hold, in the remaining 85% of SpinCo.
Now, with the merger, that 15% will be owned by AMAL, and as soon-to-be ASX listed AMAL shareholders, us.
What Tawana/AMAL chose to do with the 15% is up to the company, but I have not heard about them considering raising capital by selling that 15%.
If anything, they will be holding the 15% long term as the value of SpinCo is realised. But this is IMO. DYOR, etc.
TAW Price at posting:
40.0¢ Sentiment: Buy Disclosure: Held
