Ann: FMS Notice of AGM and Proxy Form , page-13

Juzzy76. I agree with your 1st. 2 paras.

The use of rights to free shares has already been actioned to FMS Management team as shown in FY11 Annual Report page 60.

Sutherland 4287k
Corlis 1946k
Rapaic 1850k
Anstey 1542k
Godfrey 1541k

Now these must be issued for performance/result based criteria for current year. How Directors can seek approval for further issue to MD is beyond belief,especially when the position of the Company will be set over the next 6 to 12 months,when the "team" can prove their worth. (and earn their current issue)

When you look at these quantities been "thrown around",it reminds me of what damage it can do to Investor confidence as part evidenced in the failure of Flinders Exploration fiasco when Directors sought unreal issues for the startup.

It would be nice to think major holders as in top 20,would say no at AM, but suggest one that won,t will be Citicorp.

Good luck tap