I see no comfort in zero chance of TIO getting 90% and compulsory acquisition since, practically, it just means the difference between having 1 shareholder or a small number. As you seem to realise, they don't need 90% to achieve what they want because no single holder has the necessary position to block resolutions that will lead to control.
The only hope for shareholders is in collective action. There is no hope that FMS management are going to do anything; laziness can lead to creativity but laziness and incompetence is a lethal combination. This bunch are useless and just happened to get lucky in finding a decent deposit along their shareholder mining way.
If the counter offer you suggest or any other 3rd party alternative is to arise, it will probably only come from the efforts of the active shareholder base. To that end I see management needs to be bypassed - FMS United and OCJ together could probably achieve this with help of the sympathetic holders but it seems, from what others post, that OCJ is unlikely to participate in combining forces.
The challenge for the collective is that there are 2 groups of holders that could undermine efforts:
- the very stale who have just had enough of the fight
- the lucky, like me, who are sitting on a decent profit yet are sympathetic to their plight,
Both of these groups will be thinking 2.5 cents is average but acceptable and asking if it's worth holding out for more when there is no truthful sign of any hope from the company.
There's probably only a week to save these groups from switching in sufficient numbers to tip the current balance towards TIO. Most of the lucky are probably already making their decisions.
FMS Price at posting:
2.5¢ Sentiment: Hold Disclosure: Held
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