business update..., page-28

Athyrio

In answer to "your opinion" that MFS is in a meltdown...that’s fine.....its your opinion.

Have you considered MFS may relist and do well?

Do you know what’s coming at the end of March?

Really....its all speculation and you guys could be wrong. There is a chance you know.

Consider something for me. There is a chance you could be wrong yeah?

We all agree.....based on the media reports, the sale of Stella for less than possibly what could have been handed over.....thing are not looking great at the moment.

However....Fortress extends a payment deadline. Fortress gives MFS another $50 million.

There are other factors at play at the moment that you guys have no idea of...a loop of information that you have not been privy to.

You seriously could be wrong. Maybe ease up a little and wait till we have the full set of information at the end of March.

Now in answer to your points.

• Share price plummets 70% in a day

It sure did. They released a plan of attack and the market hated it. It got incredibly sold down.

By my standards, it got sold down too much.

That plan that King had has now been scrapped.


• King resigns and goes to ground
"Goes to ground"??? You mean he is hiding out somewhere in the jungle for fear of being scalped?

How do you know he is hiding out? You sound pretty much like the media reports slanging off MFS with the tiny bit of information and massive amount of creative writing skills.

Do you write for any papers?

• Adam goes to ground

Again...any proof?


• Shares suspended indefinitely
Not true.

Athyrio...your use of the English language needs some work and should be supported by proof.

Here is one for you....all you have to do is read the full information before making posts where it shows you are clearly and factually incorrect.

From the MFS announcement dated 12th Feb 18:20pm...MFS states:

"Suspension of securities
MFS intends that its securities will remain voluntarily suspended from trading on the
ASX until the strategic review has been completed and until the completion of the Stella
sale, which as noted above, is expected to occur before the end of March 2008."

So my friend....MFS is not in an indefinite suspension.

MFS plans to trade again in late March and until we hear anything else from the company....this is FACT.



• Debt position magnified due to share drop

Magnified how many times?

As far as we know, MFS has to repay Fortress back $200 million when the CVC Stella money comes in.

What else has magnified, and by how many times has this other debt you speak of magnified?

Interesting choice of wording.


• Margin calls not defined due to suspension
no comment on this one.


• Key Compliance executive resigns
Do you know this persons name?


• Other key staff resign
Can you provide a list of "key staff" who you know have resigned as I don’t believe this has been released to the market or has not been in any other factual based reports.



• Brings in 'advisors' (corporate undertaker) KordaMentha

The so called corporate undertaker has been appointed as an ADVISOR and not as an undertaker.

Your wording is brilliant however your painting of the picture is very lop sided and a massive distortion of the truth.



• Stella sold at below cost

True


• shares in HFA etc sold below value

Do we know this to be the truth?

I don’t.

How much did MFS originally pay for the shares and how much did they sell them for.

An average buy price and average sell price will suffice for the forum to see if you are correct.



• Leisure & Living to be sold to cover debt

This could be true but since MFS has not stated this, it also may not be true. I personally think its true also.

• MFS Div Trust to change its name because of association issues

Thats their decision based on their business plan.

I dont understand how you believe this imapcts back on MFS?



• MFS NZ suspended

and?

Please see below from MFS announcement 12th Feb at 18.20pm:

"MFS New Zealand
The directors of MFS Pacific Finance Limited (MFS Pacific), which is listed in New
Zealand, yesterday advised that the company has embarked on the steps necessary to
seek its investors’ approval of a Moratorium Arrangement (Moratorium). The
Moratorium will allow MFS Pacific to conduct an orderly realisation of its loans and
investments but will be subject to approval by investors and to obtaining any other
necessary regulatory approvals.
A critical component of the Moratorium will be an agreement with MFS Limited around
its future funding of MFS Pacific, which will include an initial cash payment from MFS
Limited to MFS Pacific upon the completion of the sale of 65% of Stella. The amount of
that initial payment and the process for subsequent payments is currently being
negotiated and will be detailed in the Moratorium documentation provided to Investors.
MFS Pacific is currently preparing the necessary legal and financial documentation and
will dispatch that documentation to its investors as quickly as possible. The
documentation will provide investors with full details of the Moratorium, including the
processes involved and an estimate of timing. MFS Pacific is aiming to hold a meeting of
its investors in early March 2008."



• NZ calls in guarantees contingent debt unknown

meaning?

• Short term debt reprieve by Fortress - good & bad

How can this be bad? Not only an extension in time but a $50 million handover to smooth the process for MFS.

There must be something MFS is doing right for a company like Fortress to hand over $50 million bucks?

What kind of bad spin could you put on this?


• PIF redemptions frozen for 6 months

Good decision in my oppinion. A great one actually. I feel sorry for those people, however, this will allow MFS to further strengthen their turn around and get back on top.


• PIF Unable to fund commitments to builders etc

Any proof of this?


• CIY commences due diligence to buy FM business for nix

Do you mean NIX as nothing?

Do you have proof they are hadning over the FM business for free?

Again, poor wording, incorrect, false and misleading.


• Limited information to the market

Personally I agree with this. Holding the shares I would like to know everything.

But like every other company out there, shareholders of a company are usually the last to know what is going on.

With MFS undergoing a business review, I dont believe they should be focussing on giving a business update daily to MFS shareholders.

Personally I would rather they put all their energy into sorting every problem as fast as possible, dot the i's and cross their t's and then let the market know the facts.

Looking forward to you providing proof of those big calls you have made above.

Considering yours and others committment to the MFS thread, maybe you guys could work together to do some dilligent reading and research to support ahtyrio's claims.