Whilst I respect your opinion I think you are being somewhat alarmist. Go to FND website and take a look at the top 20 shareholders on the Petra capital report. Whilst this is of Dec 2016 and we know Acorn and RCF are out, EFDL would have to wrap up every single other holder on this list and they would still not get 51%.
This is why I think they have got Buckley's chance at 23 cents and zero chance of 90% to compulsory acquire the balance.
My advice, sit tight don't panic, this offer is a massive vote of confidence in the project and is not unexpected.
I am not saying EFDL will not at some point have control of FND but it will take a few attempts and come at a much higher cost to them.
To think they will sell up after a failed first attempt is very naive.
Let the games begin.
FND Price at posting:
24.5¢ Sentiment: Buy Disclosure: Held
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