That is correct. At the time of the Demerger we wouldn't have sold anything to Shell as yet. Hence why we will retain the same amount of shares in Arrow.
But, IMHO, the critical point to me, is on page 6 (bullett 1), where it does clearly states that Arrow Shareholders would Receive one share in a new listed entity, Dart Energy, for every Arrow Share they hold on the Demerger Record Date. End of quote.
As I said previously the whole thing should be scrapped and restarted alltogether in a clearer and more transparent way than what it currently is.
If the deal would fall over as a result, so be it. But, IMHO transparency has to prevail.
Buddy
AOE Price at posting:
$4.85 Sentiment: None Disclosure: Held
