Zenith shares were never free. The RVX assets were split with Zenith taking a lot of them. That lowered the value of RVX by a certain proportion. As it is, the assets taken appear to be performing better that the assets that stayed within RVX. That is the price paid for Zenith shares in the spinout - you paid for them by giving up RVX value. With the current RVX value, it doesn't seem to matter much but it did at the time.