I can't attest to the person's reliability, but a source told me the number of outbound sales on funeral insurance is 'significant'.
This is bad, 88% of their total sales is funeral insurance. If a 'significant' % of this 88% is going to be banned then FIG will be in trouble.
Their underlying business model is now at risk, and the cost of retrenchment and re-organisation will chew into that NTA. (so not much comfort with the share price trading below NTA). The company is also at risk of operating at a loss until it can get a new business model that does not involve outbound sales.
Off loaded most of my position at a loss.
FIG Price at posting:
21.5¢ Sentiment: None Disclosure: Held
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