new zinc spin off: priority to ipo, page-7

raw prawn,

i am about 90% certain that in order to qualify for the priority entitlement, you will need to hold a minimum amount of shares in GIR - this figure is likely to be 2,000.... Of course, I could be wrong, but this is how GIR have done their spin offs in the past.

With respect to the in-specie distributions however (which is separate to the priority entitlement to the IPO), all existing shareholders will receive "free" shares in the ZINC company in direct proportion to the number of GIR shares held. Therefore, the more GIR shares you hold, the more shares in Zinc Co you will receive.

I hope that clarifies.

rgds - P.T.