Well they would have to have a different board, but I suspect that they might share a director or two given the strategic holding G1A will retain.
As for if they will operate from a different office or not that will be up to G1A and the spin out company to resolved. They will share resources where it makes sense.
While there is some cost to a spin-out, it does help unlock value for us shareholders. CWX has done a great job exploring their resources since being spun out (unfortunately as a shareholder in CWX this is not reflected in the SP). All these resources would have just sat doing nothing if they had not being spun out of SFX.
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