Originally posted by jayneen:
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OMG you are tedious. And totally wrong. When you buy a house with a 100% non-recourse loan from a bank (as you can do for example in the US) is the house therefore "free"? If so then almost everyone in the US has bought a free house. Bought a car ever with a 100% car loan? You probably didnt realise that, according to a few select morons on this thread, you had actually got yourself a totally "free" car!! If you never repay the loan the bank will forclose and take the house or the car back off you. Hence Repo Man! In most cases, at some point you pay back the loan and then the house or the car is yours. Or you sell the house or the car and repay the loan from the proceeds. From the moment you buy your "free" house you can rent it out and take the rent (almost like a dividend) without giving anything to the bank. The only difference in the JW FEX case is there is no interest - in the car and house case the loan has an interest coupon. In. But there is also no cash being used in the JW FEX case wheras in the car and house case there is cash being used in the "free" purchase. So makes sense not to charge interest when no cash is actually being used. The house is not "free". Neither are JW's FEX shares. The loan (which is cash neutral) has no cost. The loan is free. Get over it. Two other things: 1. There is not 30 million shares. This is another example of hystrionics and exageration. Resolution 1 is for the plan which has a maximum of 20m shares. Resolution 2 is to approve 10m shares to JW under the plan. Resolution 2 can not pass without Resolution 1 already having passed. The 10m is a part of the 20m limit under the plan. As the plan is for Directors only any other shares issued under the plan will require separate shaerholder approval. Presumably the company is asking for a 20m limit to provide flexibility for furture NED appointments as well as perhaps for MD and/or executive director to be provided a similar incentive structure. The memo makes this clear. Shareholders have twice voted down PRs (free shares!!!) and so the company is putting up a new plan. That plan has a limit of 20m of which 10m are proposed ot be issued to JW. If and when any of the remaining 10m are used will be subject to future approval. So to do calcs on 30m shares being issued is incorrect. It is only 10m. 2. The issue of 10m shares dilutes future dividends to existing FEX holders by slightly less than 2%. The calculation showing "14.28%" is absolute rubbish (nice use of 2 decimal places to make it look valid btw). Another example of misinformation and manipulation by the increasingly panicked propagandists. To me the SCN deal has JWs influence all over it. The smart shareholders will be backing him to do much more than clean up an exploration JV. The big play here will become obvious and I doubt even the morons will be complaining when the share price gets over 50c! J9
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You're being ridiculous, I'm sorry to say. When you buy a car with a 100% loan, you're expected to make repayments continually - so no, it's not free. Again, when you buy a house - you're expected to make repayments, which means there's personal expenditure on your part, so it's not free. It's actually costing you something. I've never discussed 30mil shares, so try to get your facts right for once. And Cease posting fabrications. We get it, you're mates with John so he can't do no wrong in your eyes. Personally I don't care. I'll repeat it over and over again until it sinks in - John will be paying absolutely nothing from his own pocket to acquire his 10million shares or to keep them or to sell them, which is Literally the definition of FREE. Enjoy the rest of your day.