A few home truths...

A FEW HOME TRUTHS

Ladies and Gents,

1. Some of our directors have openly stated to individuals that they have had “positive feedback from ALL major shareholders” regarding the latest offer from Todd. This is NOT THE CASE, and once again raises the issue of inadequate consultation and a lack of a comprehensive grasp of the shareholder concerns.

As you would know, this was the very reason why FMS United came to fruition, to voice the concerns of individual yet likeminded shareholders. During our initial discussions with Todd, at their request, we enlightened them on the true sentiment of many of the individual shareholders. They were initially shocked at the stark contrast to the version that our management was portraying. Even after we provided clear evidence of the massing number of disgruntled shareholders, FMS management and Todd failed to listen. We proved them wrong and our position of strength during the unequivocal defeat at the OA vote last year. Ouch!
So what’s the difference this time….

1. NOTHING HAS CHANGED – FMS Management has failed to engage with the majority of shareholders and gauge our position. They have recommended a deal that a vast number of their shareholders do not agree with:

• Of the approx. 550,000,000 shares amongst FMS United, only the top 20 holders were consulted on the price they would sell.
• Of the top twenty, there are several that I have regular contact with who are disgraced with today’s deal and will not be accepting.
• Those top twenty who support FMS United account for approx. 25% of the approx. 550,000,000 amongst us. So what about the other 75% / 440,000,000? You failed to consult with them; you have an audience (A large one) who is actively engaged and eager to converse, who you failed to consult with. Shame on you.

Well don’t worry Sir, you will read about our outrage in the AFR in the coming days. If that fails to capture Todd’s attention, the statutory declaration I’m preparing for them, clearly confirms the numbers once again.

Stay tuned, more to follow.

Matthew Hester
[email protected]