Ann: Flinders signs option agreement with Todd Corporation, page-112

Taboon,

You said: "It is good to see the $10million being put in trust and not available for management to dwindle away"

Where did you see that?

In my post, I said "In my view, the option payments should be kept on trust for s'holders until such a time the sale goes through (assuming it goes through).

Back to the offer

Another way to look at it - is it possible that the offer is merely the first offer to be followed by a better offer? Any negotiator would never put out their best offer first up.
But what troubles me by this, is that the FMS board has recommended the offer.

Why is the royalty stream capped at $1.4 on the basis of a $80 per tonne IO price. Is the $1.4 cpi indexed every quarter over the 25 years?
Why not a percentage on sales?

The question that I ask myself is why RTA and FMS could not be merged or RTA and FMS acquired outright by Todd or scrip for scrip etc.

FIRB
I wonder what the FIRBs view will be on this sale?