Ann: Quarterly Cashflow Report, page-52

nobody can take your shares from you without your consent - except in the situation of Compulsory Acquisition. For a C/Acq to occur, a company or person must have acquired 90% of the shares, before they can apply to do that. Re FMS, they would first have to acquire OCJ's parcel, then try to acquire the bulk of us minorities in order to get to that 90% threshold.
And just how happy would OCJ feel giving up their shares at 45c or 1.8c in old money??

in a Unmarketable Parcel Share Sale facility move, FMS can move to acquire any parcels with less than $500 market value. This is done off-market. FMS sells the unmarketable parcels of shares on the ASX, then returns those funds to the participating shareholders (with no brokerage).

A Buyback is totally different. FMS has no funds to conduct a Buyback of its own shares.

BUT (and a big BUT) - in an Umarketable Parcel share sale move, shareholders have the right to "Op-Out", such that FMS cannot sell a shareholders small unmarketable parcel.

As a separate issue, IMHO, in this current state of flux, FMS does not need to raise money (ie via a CR), because it has the funds coming from BBIG via the unspent monies from the BFS.

At some point, one could see BBIG just cancelling the J/V agreement, particularly if it looks like they might lose the Rail Agreement.
Once the J/V Agreement is cancelled, the FMS again is stuck for funds.
It would have no hope of repaying the Todd loans.

All just IMHO.
cheers