I have attended all AGMs and all EGMs in Perth and Adelaide duringthe last 10 years. I attended the information sessions in Adelaide thus meeting the 2 recently appointed Directors and I am bitterly disappointed with this latest proposal.
I have already voted mine and all of my family’s shares AGAINSTthis proposal.
PS is absolutely right that our Directors must have a PARADIGMESHIFT in their discussions with BBIG.
A substantial upfront payment to cover cost to FID and asubstantial dividend to all shareholders is a MUST.
The 2.5% royalty option is way too low and completelyunacceptable. A royalty option to be in the order of 8-10% is acceptable.
Where is the modelling and projections?
Whyis this deal so complex and difficult tounderstand?
The risks outlined are far too great for the pittance of the proposed“reward” and gives control of our major asset to BBI.
I agree with PS’s statement that:
“I have no problem with BBI taking all of PIOP, BUT it mustbe more beneficial to FMS shareholders than the current proposed deal otherwiseI call for the company to go into care and maintenance whilst pursuing analternative agreement. I particularly note that Brockman decided to do a JVwith MRL and not proceed with the BBI MOU.”
PLEASE VOTE EARLY butDYOR before doing so.
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