A plausible explanation that I can think of for the dividend cut, and I am not saying this is it, or even sufficent, is that CTL wants to use the money to re-invent itself somehow with a new technical vision, and doesn't want to tip its hand, e.g., give competitors any information.
I suspect there's a deal in the works he can't even hint at yet, and there's more to unfold.
Calculate the intrinsic value, realize that you have just been given a gift to secure a valuable asset at a cheap price and make your investing call on that basis.