letter to eftel directors re quoin

I am going to send the following letter to EFTel board of directors. If anybody has anything else to add please let me know:

Dear Sirs,

I am writing with regards to recent ASX announcements regarding the acquisition of EFTel shares by Quoin International Limited.

As a shareholder of EFTel I am very concerned by these transactions, which appear to have no benefit at all to EFTel, and would even appear to be detrimental to the value of EFTel and it's share holders.

It seems to be a very strange and unprofitable arrangement for EFTel and its shareholders that you would willingly allow a company that is suspended from trading on the ASX, is probably operating at a loss, and appears to have no other major assetts other than the EFTel shares it has recently acquired, to obtain 19.99% of the share capital of EFTel.

It seems to be even more strange that this arrangement has taken place with absolutely no financial remuneration or benefit to EFTel, other than an equal transferance of 1 Quoin share for every 1 Eftel share.

If anything the arrangement would seem to be a certain loss maker for EFTel, as the share capital of Quoin in its current state of affairs, and if they ever start trading again, will never be worth more than the value of the EFTel shares it now owns. In fact the Quoin shares will almost certainly be worth far less than the value of Eftel shares, given the no. of Quoin shares outstanding, and that there will need to be administration and compliance costs associated with running Quoin.

Given the above, I have some questions:

Can you please explain how you think the share transfer arrangement of 44,349,938 EFTel shares for 44,349,938 Quoin Int Limited shares will be of benefit to EFTel shareholders, and if there is no benefit why you have allowed these share transactions to take place?

Are you able to tell me the current value of each Quoin share that has been acquired by EFTel and how the valuation has been arrived at?