Flip your thinking..., page-30

for the sake of disclosure, I have, with absolute reluctance, accepted the Todd bid - Offmarket.
I do not think 2.5c is a fair price, but Todd is not in the business of free love.

I DO think that an investment in FMS with Todd holding less than 50% and not controlling the Board, is a totally different investment situation than Todd holding say 50%+ and controlling the Board.

I DO think that Todd will have to get 100% of FMS shares - either by taking-out OCJ and the minorities, or maybe just taking-out minorities and doing a deal with OCJ which allows OCJ to retain a % of the development (like RTA & Curtis). There are all sorts of important reasons why Todd needs to get to 100% of FMS.

So staying as a minority shareholder can be advantageous, but can also be fraught with difficulties.

I reckon one needs to be prepared to wait-out Todd, and be prepared to contribute further capital to avoid dilution, but also be prepared to put money up to fight to protect your rights as minority shareholders.

all just imho. DYOR
cheers