To me the announcment from CSE on 28/5/14 was enough to be...

To me the announcment from CSE on 28/5/14 was enough to be satisfied that CSE have no intention of any real business plan other than riding their SYR holding until the time is right to dispose of it or possibly keep holding for dividends to flow through. They have previously stated that they are fully investigating the most tax effective way to distribute either SYR shares directly or capital return/dividend from a SYR share sale when the time is right only. Even when that happens CSE holders will still have ownership of a listed shell company that can re-invent itself with new projects, raise new capital etc.

With the SYR sp at $4.18, my spreadsheet currently shows CSE to have intrinsic value of approx 44c before tax and approx 32c after tax on the potential SYR sale is taken into account. Compare that to current sp of 25.5c