Once again, as per @Mainy 66's post on the LLL thread, I cannot fathom how they haven't had bidders falling over themselves to swoop up the LLL shareholding over the course of the last 12 months, let alone right now, with the LLL SP doubling and continuing to rise.
Combined with the tax losses available and the yet-to-be realised value locked away in the LLL share parcel, it is an absolute no brainer for a OEM to swoop on FFX, even with the Morila issue bubbling away in the background.
We really need that facepalm emoji.
Unless there is an absolute KICK-ASS offer coming our way and we can all happily and sheepishly eat our hats and see why the board have been holding off for so long (I highly doubt it, but allowing for that 0.000000001% chance), this has gone on WAY TOO long.
I can't believe this has dragged into a brand new FY with absolutely no resolution. All shareholders would be at their wits end, on both sides of the coin:
- The fund managers of the top holders would also be frustrated (and getting their asses kicked for investing in FFX the day before it halted, if they had not already been sacked...) They just want their capital back to be able to finally rebalance their portfolios and put this in their rearview mirror, moving onto different opportunities for their funds, to be able to wipe some of that egg off their faces and start claiming back some profits.
- Retail shareholders just want to know they haven't lost their escrowed LLL shares to a black hole. I would suggest that a good majority of holders remained in FFX mainly for the pro-rata LLL shares, with the supposed bonus of the gold side - a hedge which has definitely not paid off to date). They would just want their cash back so they can either put it directly into LLL, to know they will receive 100% of each share's profit going forwards (rather than just 17.68%), or free up well-needed cash to pay mortgages, health bills, put food on the table for their families etc, whilst knowing their is security in receiving their LLL shares in less than a year now.
We still remain in FFX purgatory - no shareholders, neither Institutional or Retail would voluntarily want to be remaining in this deadlock with no forseeable outcome for another few months. Get a deal pronto, or call the whole thing off and return the cash & LLL escrowed shares ASAP.
No reason to F*ck around any longer. The BoD got a whole year of salary out of this complete balls-up, whereas ALL shareholders have lost out.
(20min delay)