FML 5.13% 18.5¢ focus minerals ltd

notice of extension, page-10

  1. 661 Posts.
    lightbulb Created with Sketch. 69
    I am extremely puzzled by this and slightly concerned, mainly because I can understand no reason for this latest move, and don't like the possibility of some other unknown that may be influencing events. As far as I understand it, Stone already have enough interest to block a compulsory buy out, FML would be left with complete control over CRE and able to de-list. There was a risk of Stone accepting the offer at the last minute which would give them a significant holding of FML acquired at a loss, and maybe enough ill will to sell on market pushing price down. Only a short term fling, no real long term risk.

    So now by extending this offer, if what others have said is true, that acceptance can be revoked, it puts the ball back into all the CRE holders hands, Stone can acquire more at will or submit the superior offer the talked about. FML is still hooked into their unconditional acceptance. Maybe some of these assumptions are in-correct?

    I bought FML because I thought this deal was good for them, I am wondering now as others are, if they are trying to derail it now. If not then I would really like to know their motivation, or what possible benefit it could have for the share price. I hope there legal advice is top rate!
 
watchlist Created with Sketch. Add FML (ASX) to my watchlist
(20min delay)
Last
18.5¢
Change
-0.010(5.13%)
Mkt cap ! $53.01M
Open High Low Value Volume
18.5¢ 19.0¢ 18.5¢ $13.12K 70.76K

Buyers (Bids)

No. Vol. Price($)
1 15000 19.0¢
 

Sellers (Offers)

Price($) Vol. No.
20.0¢ 118797 4
View Market Depth
Last trade - 15.45pm 01/11/2024 (20 minute delay) ?
FML (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.