Ann: SFG ASX Announcement ASIC Waiver (561), page-3

Basically they would usually need to provide us with a similar amount of information on the demerger as if it was a new IPO but have applied to ASIC so they don't need to give us anything near as transparent on the business. To put it in perspective a basic prospectus could be prepared for 20-30k and might actually be able to give minority shareholders some idea of the tire value of the business. This whole this seems really suspect. Why spin it off and why now? It turns a profit and has independent management from the rest of SFG so isn't causing a distraction for management. And Why spin it off in a way that leaves me a bunch of shares I can't trade out of (they won't be listed). Surely we could hold onto it until a buyer can be found, unless they have found one and some backhanded deal has been done so the purchaser can get it on the cheap.