Shareholder value in the demerger has been hit badly instead of...

Shareholder value in the demerger has been hit badly instead of getting the true value out..

For eg.
Pre demerger
If you held 100k shares when FFX was trading at $1.10 (not taking the max $1.33) that’s is $110k value

Post demerger
100k shares in FFX @22.5c = 22.5k
71428 shares in-spec LLL @ 52c = $37.1k
Total value = 60k approx

that’s a $50k hit or a 46% hit in Share price.

Mike had ammo that he could have used to cushion FFX Share price for a soft landing but it’s all BS talks from him and nothing to deliver.

Directors buying on market as show of confidence when you see a 50% drop would calm some nerves

I know it’s a tough market but what’s sad is that management didn’t even try with any on market releases or updates as a show of confidence..

I wouldn’t be surprised if his friends know that they have missed the targets, blown cash and now NoDebtMike will be doing another CR To raise cash and continue to screw us up. Who knows but from my side Mike isn’t in my good book and has never been. I hope Simon doesn’t follow on Mikes approach and is better at running the company and not run it into the ground.