Yeah true, i retract the legal action comment as it would not...

Yeah true, i retract the legal action comment as it would not have a good outcome, but it is very frustrating when 166M shares are issued when not rightfully earnt.

Personally i do not see FBR buying the home as arms length.

I'd be happy for them to get the performance shares if they did what they are proposing to do with Archistruct 2 or 3 months ago, and instead they would now be ready and building a home for a real customer (true arms length) in time for the performance rights.

IMO investors are selling now because:
a) They believe the last Ann's are a slimey share grab
b) 166M performace shares will soak up the market cap gain when news finally comes
c) if (b) is true, might as well wait until after the shares are issued and eliminate the exposure risk if it fails.

But then again, waiting on the sidelines has its own risk:
a) Random pop up announcement, FBR has been know to do this like the sp rocketing UAE MoU.
b) Chance that FBR don't go for the performance shares and shock the market to the positive side. If shares arent issued and dilution avoided, SP correction would take place as i believe the dilution is fully/partially factored in- one would dream but its very unlikely Pivacs will pass on the shares.

The whole 500M performance shares was built into the prospectus so that Pivacs won't be diluted out of the company and maintain control - Which i understand, but thats a lot of money to take from investors.