I am also a long-standing (not so large shareholder) and I am one of the organisers of this 249D action!
I also remember you as part of the original 249D to which, if shareholders didn't exercise their rights then none of us would be still on the BGS/MLL/FFX threads because the Company would have sold the Lithium project for peanuts.
Firstly, and this is just for my future understanding,
~ why do those that are opposed to this action have the need to emphasis "large holder", yeah, sure your large holding has more oomph at the ballot but us mere "smaller holders" have the same shareholder rights, do we not?
Obviously, I have a different opinion on the announcement, it actually highlights how much that this incumbent Board haven't disclosed (some content under confidentiality clauses)
I will also assume that you being a large shareholder was in the group wanting "liquidity now" and the reason Lowe initiated the Corporate Process.
~ contrary to the disgruntled remarks and emails from those against the 249D that "purportedly" a deal was almost done way back in June, and was a concession the group took to delay submitting the action until Lowe provided the 30 June shareholder update.
~ which also highlights with the announcement, that the "purported" Corporate Transaction to provide the "purported" liquidity will be somewhat delayed because of the disclosed issues with Morila/Mali.
~ from "purportedly" being close to completion, we will get an update by 30 September, but factually the "liquidity" amount will be depreciating with the amount of lawyers the Company have currently engaged.
How much more of shareholders capital (cash) will be exhausted to engage Clifford Chance, for what is basically (purportedly) good faith discussions?, we seriously do need a "shakes my head" emoticon.
I respect every shareholders right to vote according to their analysis of the "current" events and/or circumstances
What has me perplexed,
(a) The Company held its AGM on the 31st May, and dialogue recorded from the meeting, Fraser was very clear that the Company had no information streams coming from Mali/Morila. Have no idea on what has been happening at Mali/Morila. Agreed that they had no idea what was happening as 80% shareholders that are selling their stake in Morila SA.
~ in the announcement the Company disclosed that "throughout 2023" they have exchanged a number of letters with the Government in relation to selling the interest in Morila SA, in addition to the exchange of letters Lowe met in person with government representatives on two (2) occasions including meeting with the Minister (now defunct Minister) in March 2023. The nature of the various letters, communications and discussions with the Government throughout 2023 and including the receipt of the letter has been confidential concerning incomplete matters.
++ although the matters are still incomplete, the company choose to break confidentiality because of a post on a social media outlet, and/or
++ (IMO) because they needed some sort of selling point to retain and/or attract votes -- obviously it has worked to convince some.
(a)(i) further into the AGM meeting, with discussions on Morila SA board, Lowe stated that they don't have a majority on the board, after the decision to cease funding, we don't have a majority on the MSA board and it didn't meet as frequently, we were only getting sporadic reports.
~ 10 minutes earlier Fraser stated that the company were not getting any information, had no idea what was happening but the company and Lowe were communicating and engaging in meetings with the government.
++What letters were they exchanging? Birthday greetings? because on numerous occasions (AGM) they were adamant they we not getting any information.
~ when did the Company apply for a non objection from the government?
~ when was FFX actually informed of the governments decision that they would not approve any deed of sale?
(b) the company was asked specifically at the AGM if there were bidders for the 80% holding of Morila SA, and were they waiting on a letter of no objection.
~ Fraser fluffed over this and claimed confidentiality and said they were engaged with the government and other stakeholders as well as those keen to invest!
++ (7) a deal for Morila was between two bidding parties, one was government preferred but involved Firefinch Limited assisting with $M's, the Company went with the 2nd bidder. This was from a previous post (24/5) https://hotcopper.com.au/threads/i-have-heard.7398688/?post_id=67946785
~ well knock me over with a feather 
, lets scroll forward 3 months and I quote:
"Firefinch previously announced it was in negotiations with a West African company that the Company considered to be the most suitable new owner of Firefinch's interest in Morila SA. However, the Company's recent meetings with Government has included discussions of another potential bidder."
++ given that this was in the category of "I have heard" it sure does highlight something? the walls have ears? or loose lips sinks ships? or just one of them coincidence things that finds its its way around the traps?
(c) No parent guarantee:
~ the balance sheet was de-consolidated, we don't have control, thats the main test of de-consolidation, no control.
~ any creditors that Morila has, has no legal basis of making a claim against Firefinch and its assets, a really important point.
No parent guarantee, no parent guarantee, no parent guarantee -- Fraser and Scott in almost perfect unison when asked if there was any parent guarantee! Honestly, it sounded like a Company of parrots in a feeding frenzy as the AGM recording of them two still reverberates around in my head .. .. ..
~ the Company was very conscious of preserving value and protecting Firefinch's assets in the interests of our shareholders from any potential of making a legal claim against us .. .. .. ..
++ Just touching on Lowe's bit of a spiel (AGM), re: I have had 20 years experience working over 6 African countries and they work with different legal systems to what that we have here!
It is obvious (and IMO) from all of the above chant of "no parent guarantee", the "protection of Firefinch's assets" "safe guarding from any potential legal claim against us" seems to mean little as we have engage one of the world most experienced (probably most expensive as well?) to represent us in "good faith" negotiations!!!!
So I do agree with your thoughts on the announcement highlighting this, but through my eyes it has only added to my resolve to persevere making these directors accountable. Frankly, anyone casting votes to keep any/some or all of the current Board is just vindicating them for the decimation of shareholders wealth!
VOTE FOR ALL RESOLUTIONS!!
cheers
FUN FACT:
What an illustrious group gathering -- members of the current s249D club of BGS/MLL/FFX .. .. ..and affiliate groups lol
@franky1 & fooca and Fraser & Gordon & Hepburn & Lowe.
Some of us serve them and some have them served on them!
The servers:
FFX Shareholders Group
Other various groups
The receivers:
Fraser:
Drake Resources: 27th February 2017 - Fraser resigns before meeting called
https://announcements.asx.com.au/asxpdf/20170301/pdf/43gh5hrsksp6jw.pdf
https://announcements.asx.com.au/asxpdf/20170310/pdf/43gq7dpmczzysw.pdf
Empire Resources: 15th October 2018 - discussions with shareholder - Fraser resigns
https://announcements.asx.com.au/asxpdf/20180905/pdf/43y2mdz84zmd4x.pdf
https://announcements.asx.com.au/asxpdf/20181003/pdf/43yyd7hx0wxfkg.pdf
Blina Minerals NL: 4th September 2019 - resigns before meeting
https://announcements.asx.com.au/asxpdf/20190904/pdf/44872f10xjm90t.pdf
https://announcements.asx.com.au/asxpdf/20190919/pdf/448p4ps3zxd3fl.pdf
Firefinch Limited - To Be Determined
Special Mention:
Sundance Resources: April 2018 - current: Company Delisted
Gordon:
Intrepid Mines: 24th April 2013 - 249D was unsuccessful in removing any of the named Directors
https://announcements.asx.com.au/asxpdf/20130514/pdf/42fw0k8wt7jntf.pdfhttps://announcements.asx.com.au/asxpdf/20130620/pdf/42gl05k5xjsj1q.pdf
Firefinch Limited: To Be Determined
Hepburn:
Firefinch Limited: To Be Determined
Scott Lowe:
Intrepid Mines: 19th November 2015 - Lowe successfully removed
https://announcements.asx.com.au/asxpdf/20151009/pdf/431z6rdnnxbf4x.pdf
https://announcements.asx.com.au/asxpdf/20151119/pdf/433415scr0mkkr.pdf
