Trying to understand why our Board has entered into an agreement which has these statements included; • Flinders may not incur any unsecured financial indebtedness exceeding A$5 million withoutthe prior written approval of PIO. • Flinders may not create any interest or encumbrance over any of the Company's assetswithout the prior written consent of PIO.
Does this effectively give a subsidiary of our major shareholder control of Flinder's capacity to enter into a financial agreement with somebody other than Todd until June 2022? What about if OCJ want to advance funds to keep the company afloat if needed? Why would our board sign up to such as restrictive condition?
All in my personal opinion.
FMS Price at posting:
4.0¢ Sentiment: Buy Disclosure: Held
