First I would like to point out that from 18/12/09 FMS does have a sunstantial holder, that being Acorn Capital Limited which holds 5.06% of FMS shares.
Once again I must say that the spilting up of FMS is not in the best benefit of current holders.
I read a post here that claimed that the new companies shares would cost 20 cents. To make the $10m that they need to raise they would need to sell 50000000 shares not counting the cost of listing and raising the new shares, discount to current FMS holders or the 20% FMS will retain.
IMO before discovering the iron ore (November 07) FMS was worth .01, they have since then made some diamond discoveries and added Phosphate exploration therefor maybe the new company maybe worth somewhere between .03 and .05 cents. So maybe current holders should be given a 50% discount on $5m worth of shares (First in basis). I would think if you they would need to have around 600m shares on issue with FMS holding 120m DYOR
FMS Price at posting:
13.7¢ Sentiment: Hold Disclosure: Held
