I am pretty sure Ron got what he wanted when the merger went through .. that was the opportune time for negotiations to happen behind closed doors and deals struck and structures put in place to give those in power exactly what they wanted. There was and is no need to play games on the open market.. too many risks and billionaires don't become who they are by taking those types of risks.
It also makes no sense that Ron would put in US$20m at 85 cents per shares on merger, to only manipulate the market with his mates to get a lower average price... he could easily have argued to have injected that capital at a discount.. rather than at near market prices.
When I take a look back at the merger presentations back in mid 2017... their objectives was to become EBITDA positive in 2019.
Two and a half years on .. they will miss that by a handful of days... that tells me that they have in substance delivered what they set out to do on merger ... Q1 2020 will be the start of positive EBITDA Qtrs ... positive cash flow quarters will follow in due course.. and the rest (including the present) will be history.
FLC Price at posting:
46.0¢ Sentiment: Buy Disclosure: Held
