the board of directors haven't done anything soectacular.
There are a raft of takeover offers happening in this current climate, why? because we are seeing great assets sitting at undervalued prices. Cashed up predators are taking the opportunity to swoop at alltime low share prices.
What is different though is that alot of these other companies are still attracting premiums to their current value. AND shareholders are getting a return in their back pockets. Sadly nothing of the sort happening here.
Our board has struck a deal at a low ball price, they have freely given away control of OUR company and have FAILED to extract a premium to fair value.... and you expect me to applaud them?
Last time I looked at FML's cash position we were almost broke too... with such great assets (and I truly believe they are) why is this so? why have our board struggled to control cash costs?
Pinto I would be very interested to hear all the "hotcopper armchair experts" opinions on the "independant" experts report... please enlighten me as to why this is such a great deal for retail shareholders based on that report?
Davo
p.s may I also remind you that its a mere 750 million short of a billion dollars...
FML Price at posting:
3.6¢ Sentiment: None Disclosure: Held
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