Counsel Corporation CXSNF

Spinoff

[frankzwhite]

On the conference call they mentioned spinning off Heritage Global. Shareholders of CXS would get shares in Heritage in return.  I took a quick look at Heritage's latest publicly filed docs via EDGAR and don't really see much value. Does anyone know if Heritage shares would bring any sort of value of us CXS shareholders?

[mjh9413]

This has been mentioned many times in recent past. TheRock thinks this one distribution might be valued at over 60c. My take is that each share of CXS may garner 21cent  value if you choose to  sell HGBL at USD70c or so. GL

[Hassel]

It never trades. But you will have to pay taxes on it. Hassle

[mjh9413]

Once the distrn is made of the 70%+ of shares owned by CXS will trade and probably down. I imagine the distribution will be tax free and an adjusted cost base on the CXS shares you hold offset by distn value of HGBL shares so loss/gain is calculated upon sale of either. JMHO. The other distns, well they are cash but are they capital or eligible dividends? Possibly former. That is why to me the