Not a takeover, but a sNIP for CFE - they got these for 17 cents...

Not a takeover, but a sNIP for CFE - they got these for 17 cents each

Think of it as a share transfer - from Copperco (in receivership), who gave all their assets to CFE.

It got slightly complicated due to being over the 19.9% threshold, but now, with NIP shareholder approval, CFE will end up with it OK

NIP shareholders will most probably approve the transfer, otherwise they risk the Copperco receiver smashing the share price to downsell

IMO - it means NIP now has a cash rich cornerstone shareholder in CFE - what CFE do with the company/shares is anyones guess - no comments have been published