I've mentioned before demerger brought about a confluence of factors
management too busy (not with real work, outsourcing work, Perth lunches, etc) the law, or lawyers, probably too difficult to raise just before a demerger and shareholders, allowed management to drop the ball, distracted by the demerger, even if a raise was proposed with a delay to the demerger, may have been rejected by eager shareholders
200,000,000 AUD raise above 1.00 per FFX share would have saved FFX, potentially. worth over 0.50 per share, maybe 1.00
and would have given Leo life without dilution worth about 20% of Leo? 0.20 per share
that's the difference between failure and mega success
FFX Price at posting:
20.0¢ Sentiment: Hold Disclosure: Held