CLE - Shaping Up To Be The Next Fortescue Metals Group., page-531

This is the only way shareholders should accept a spin off is to allocate pro-rata shares. Unfortunately history has repeated been that the asset was spun off and TS allocating himself most the shares in the process then dilute out CFE/CLE to nothing. EUR is now $3M in shares that was once 50%+ ownship by CFE/CLE.

My main point here to make sure that the old directors have their hand kept out of the till and keep everything transparent and more importantly - fair. I personally have a lot faith in PB and it will remain that way until he behaves differently.