as an ex-investment banker, the $10m is effectively a "placement...

as an ex-investment banker, the $10m is effectively a "placement fee" to one buyer, and is far too steep in my opinion. Shareholders should voice their opinion loudly at management over this.... why isn't the money being returned back to us instead??

the other news however is promising, and we can take 2 key points from the announcement:

1. the deal is almost certainly going to go ahead - which should result in a large increase in the CFE share price (probably to about 65 cents)

2. further shareholder value will be realised through the spin off which prima facie appears to be priced very, very low, allowing the Directors (and shareholders) to make a very quick profit on the spin off (probably in excess of 100% gain).