In specie distribution

Petratherm's holding of 33m Skarb / Outback goldfields shares is over $50 million which is now greater than the market cap (35 million). Should Outback actually get positive drilling results, the holding will obviously increase in value. Therefore there will be a potential "negative equity" event for Petratherm.

Just wondering how this in-specie distribution works once the money comes in April? If the value holds up, will it be based on the difference between the current market cap versus the current holding (ie: 50 million - 35 million= $15 million). Or will they just pay out the whole total $50 million outright (seems silly if they do)

I'll probably contact the Petratherm about this.

Disc: I hold PTR.