Nice One
They will give themselves a lot of shares and if and that's a big if the new company gets off the ground and makes money it may help the dividends from Flinders exploration but that is highly prospective with highly in Caps. I cannot see one benefit for you or me in this. Would you buy the new shares from FMS? I already own them so not going to gamble twice and buy them again especially at 20c. FMS cannot give them to you because that then becomes a gift and therefore are they taxable. The ATO is not able to answer this or couldn't decide one way or the other some 18 months ago when the question was posed to them.
Have been racking my brain trying to remember as to whether FMS even sent the FDL spin off to MXR too the shareholders for a vote or whether it was a board decision.
Someone will remember.
spinoff, page-40
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