Pilgrim Petroleum Corp. (PGPM)

[Doubledown75]

“Under the terms of the Agreement, shareholders of Pilgrim will be receiving 1(one) share of stock on the newly public company for every share of PGPM hold in the form of a dividend. Due diligence for the completion of this transaction will be scheduled to be completed in February 2018”

Question is, how much is the dividend?
New public company in February 2018 exciting stuff:)
So for example (not realistic just math) if the dividend was 0.05, you would need 20 shares to get one share of the newly formed company, correct?