Nice work Cazzex,
Simple fact is that FML needs access to cash. There are many ways this can be achieved, however, the current offer we have is the ONLY current offer.
I am not writing in support of either the YES or NO vote here, rather I am trying to say that for all those people that want a "different offer" - and that includes many on both side of the fence - then where is it? or where will it come from?
This current situation is not entirely the fault of the BOD. There are many big companies out there - it is not possible that only Shandong knows that FML exists - that in fact is impossible. Should FML currently represent value, then why are no other offers coming along? There has been plenty of time.
Should this offer be rejected, what guarantee is there of another offer - of any sort? If another offer did come, then one would assume it would not be at a higher price than the current offer or a potential suitor would have already shown their hand. If someone else wanted in for 6c, then now is the perfect time to do so with a 5c capital injection and control offer on the table.
If this offer does not get across the line, I cannot see how any future capital injection will be at the current offer price, or higher. It may however, not involve selling 51% of the company. The outcome of this vote is new effectively a coin toss in terms of whether it will be good or bad, and whether someone else is going to be able to finance FML's ongoing growth strategy in the future.
We can only work on what is certain.
1. If YES gets across the line, then FML will have $225M in the bank and Shandong will own 51% of FML - to what effect, we have no idea.
2. If NO gets across the line, then FML will have a few million in the bank but will retain full ownership of this and their assets. How that plays out, we don't know yet.
Nothing else is certain. It's that simple.
Again, I am not saying this in support of either option.
My vote was cast 2 weeks ago.
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