FME- Backdoor listed project- Stranded asset sold by PAN for...

FME

- Backdoor listed project
- Stranded asset sold by PAN for $12m, after PAN buying it as a stranded asset for $5m from liquidators.
- 100:1 consolidation of the vendor company (fomerly RMP:ASX)
- Capital issued to seed investors and promoters (para 3.2 of Prospectus) and then to others at 10 cents via the Prospectus.
- Then a quick name change to FME:ASX
- $120m mcap fully diluted (shares, escrow shares, performance rights, options).

And presto - how to turn a mothballed project for $12m into a $120m fully diluted company in a few trading days.

From the prospectus:



These backdoor listed plays always look so lovely don't they - at the start, anyway.