This Giralia investor resentation in February 2007 makes good reading. Talks about shareholder value accretion through spinoffs. "Giralia investment (100K GIR shares) on 30 June 2005 is around 573%. Total investment, incl. take up of all priority entitlements is $26,113. Portfolio value at 22 February 2007 is ~$175,900GIRALIA-total value of an investemnt in 2005 now up 585%"
It would be substantially higher now if takeup of the Zinco priority entitlement was included
