Grotty, As you laid it out, it's just a spinoff. We each would receive shares in newco in proportion to how many shares we each own. Fairly simple process as long as Leo and the BP purchasing the more advanced programs are happy with the price and negotiate clear and clean agreements.

We then sell our shares of the "old" ctix and keep newco.

Of course most of us would be disinclined to sell any of CTIX short of a far higher price than where we are at. Realistically, Leo and Menon have sufficient voting control to force a sale -- should they so choose.