Ann: New Senior Debt Facility and Market Update , page-5

re: Ann: New Senior Debt Facility and Market ... I expected a suiter to buy into FFF MJS.Obviously the offers made were below a price suitable to the major holder now loaning the company.His average price I calculated as around 4c so if they came along and offered 3c say he may not have wanted to take it.Under the original proposal that did not go ahead the major holder after recapitalisation would have broken even with the rights issue at 1c.The loan is now for a total of $58 million and maybe they will take their time in doing a recapitisation.I guess overall the major holder is said to be worth $300 million so $58 million is not a high conviction.