Point 6.3 of the Prospectus show a table of the capital structure as follows
35.1% FEX will be owned by Directors and other employees of the company that is 21.6 million shares...
40.6% OR 25MILL shares will be released as part of the prospectus
24.4% Will be owned by Flinders
How on earth do the Directors deserve 35.1% of the FEX company..
Do the Directors know something that the rest of the market and shareholders dont...They stand to make millions of dollars and we are handing it over to them on a silver platter..I can help thinking this is a bit of a con job...
Our ownership in effect drops from 100% to 24.4% with absolutely no compensation or prospects of compensation...a loss of 65.6% in a handshake...and we have no voting power to make any difference...
Based on the independant valuation of the resource FEX isnt it already over valued before it even comes into existance...
fairness to shareholders, page-36
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