After this distribution of TRW-shares TRW will have positive impact on results of 63 musd. This one is hard to understand. I think it could actually be true that the value goes up by $62M (on top of the profits of the past 2 years). SIAF will of course have to book a loss for the same amount. This one is not true, that's why we have an ex-date for distributions. The "loss" is already reflected in the lower share price.