the vote..., page-2

When MIM (Mount Isa Mines) was sold out to X-Strata, the vote meant absolutely nothing.

We, the small retail holders ALL voted against being sold down the stream . . . most of the "insto" the big holders voted for the takeover and the little people (the share holders) lost out dramatically. The company manager spoke out against accepting the offer but all to no avail; he also resigned on the result.

I was at this meeting in Brisbane (recorded as one of the biggest in numbers of mum and dad voters attending) and the devastation at being sold out showed on the faces of the "mum and dad" investors who trusted management and were badly betrayed. There were tears and anger, but MIM went to Xstrata.

My initial feeling was: "I can't believe I am going to get shafted again as I had researched FML and I believed in the story."

TO THE VOTE:
How much of FML is held by the little people?
Are there sufficient to block the proposal or have it altered so control is in the hands of FML?
What say do the small holders really have?
Could a block of voters be established to be held in readiness IF NEEDED?
and
THE BIG QUESTION:
Why would ANY entity not want control if they had 51%?

In my understanding 51% is a controlling stake. It makes no difference if it is Australian, Chinese, Canadian or whichever nationality CONTROL comes with 51%
and
CONTROL WILL BE EXERCISED!

Business is business . . . not warm and fuzzy with promises of everlasting love and benevolence , , , control is is in hands of the majority of share holders . . . in this case (IF ACCEPTED), an overseas company with a long-term view of accumulating natural resources.

Why should this company (forget about nationalities and cultural differences) not want to CONTROL the outcome of its investment?

Despite the proposed letter from the board, I feel this is going to be another speculatory investment of mine that missed . . . SAD, but that's what speculation is all about.

We certainly live in interesting times.

I can remember receiving a letter from another board chairman in 2008 about the wonderful synergies being developed . . . Oxiana then went from $4+ to 49c. I am not fond of "deja vu" . . . could be "here we go again".

SMALL POINT:
Since the announcement (dropped bombshell) FML share price has dropped 13%, is that an omen? . . . the premium was 13%.
(tongue in cheek attempt at humour in a situation lacking humour)

Thanks for your indulgence if you read this; and remember "I know nothing".
Jahar