RE:Spin off explained - as requested!Copied from a news release on the H&R web,
Details of the Spin-Off H&R’s properties will be transferred to Primaris pursuant to a plan of arrangement (the “Arrangement”). Each existing H&R unitholder will receive one unit of Primaris for every one H&R unit held, subject to any consolidation or split of Primaris units pursuant to the Arrangement. After completion of the Arrangement, HOOPP’s properties will be sold to Primaris in consideration for units of Primaris. Following closing of the Arrangement and the HOOPP Contribution, H&R unitholders and HOOPP are expected to own an approximate 74% and 26% interest in Primaris, respectively.
Please correct me if I am wrong, but I didn't see any consolidation of 4:1 in all the News and Investor releases I have read. The distribution is stated as 1 Primaris share for every 1 H&R share we own,