The shareholders approved the spin off transaction and it was for a 20 to 1 ratio. if she wants to change it then it will have to be amended with the regulators and I believe obtain shareholder approval for the amendment. if management ever decides that the spin off is not in the best interest of the company it can be cancelled.

The decision on whether to option out additional properties has nothing to do with the plan of arrangement (spin out) proceeding forward when Lori believes the time is right in the markets. remember the plan for SLI with the exception of tesoro and possibly Vilcoro is to option them off to others if a partner becomes available.

Putting feelings aside for a moment, no matter who is an employee or director of the company, the properties have not changed. Todays news is in now way reflective of the possible merits of the property portfolio owned by SLI.