I am also asking myself how could the ASX have supported this application and now given this finding, how would they treat any further applications if there were to be any?
Further, as the ASX is a listed company itself, are they in someway liable for any losses incurred as a consequence of supporting this application for delisting which resulted in the drop in the share price from 7 c to as low a 2.5 cents - in my opinion?
Will ASIC take any action to ensure that this kind of situation where a majority shareholder would benefit at the expense of minority shareholders, cannot happen again via the ASX - in my opinion?
Personally, I question the ability of the "independent board members" to represent my interests as a minority shareholder and I can see nothing to conflict with this opinion in the release from the Takeover Panel.
Given this announcement, and the impact this action has had on the FMS share price, what responsibility and consequences flow to the FMS board now?
FMS Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
