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15/12/20
13:54
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Originally posted by Astutebusyguy:
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I agree with your sentiments and after keeping abreast this site all day and taking it all in i think the following scenario may play out.... 1. The BOD vote for us to accept this offer because they are complicit in the situation and in too deep now. 2. ASIC arrives late on the scene being overwhelmed and probably under resourced 3. The ASX s by publicly stunned so starts offering excuses as to why the trading halt wasn't enacted sooner but has a paper trail lifejacket. 4. Our largest share holder sees their investment going south and starts looking for a way to recover it. 5 Some Board of directors of FMS start to resign realizing a class action will succeed because they have been acting counter to the interests of the shareholders and its all detailed and clear for all to sea. 6. A class action actually starts and takes time to roll through the court system 7. The action succeeds and past "Directors of FMS" have their homes /assets seized pending sale. 8. Another larger player picks up the pieces, for a revival of the sunken share price. 9. Todd withdraws quietly back to NZ selling of shares to the next player to come over the horizon after the Iron ore boom is past its peak. The Todd defense rests on the O/Seas player who pulled the plug on the deal and the government of the day who legislated to be able to overturn contracts signed with overseas nations in the national interest. Note Of course this is speculation but in the larger scheme of things with a "Fire Sale like offering re todays announcement " from TODD who are tied by contracts to perform or pay up, of course they are going to try to wriggle out of the situation. In what ever form they can and why not use the FMS BOD as scape goats. The only other option they have is to go to court to get relief from the contracts their clever highly paid lawyers drew up for them under Australian laws. Of course I hope this does,nt play out this way but its certainly a possibility. As a long term share holder its so frustrating watching the waste of money, time, and opportunity slip through our fingers yet again ! Thanks go to all who have contributed to the site today with their thoughts and ideas. We shall all see in time, but don't sell your shares because this is not the final act of this play ! So Travted2000, we do need more facts and more importantly oversight by ASIC and should be wary of the offering IMO..
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If shareholders consider that the Todd offer is worthy of consideration in my opinion it is not until asic or other government body should notify Todd that under the current 60% ownership of FMS has to be reduced to no more than 40%, and, that Todd cannot hold anymore than two members on the board and an independent can only hold the chair, if we as shareholders do not get something of that order I will vote against, “if” they want no risk then they sell their excess to another buyer, they bought cheap enough so they will not be out of pocket, it is a win-win for them.
Originally posted by Astutebusyguy:
↑
I agree with your sentiments and after keeping abreast this site all day and taking it all in i think the following scenario may play out.... 1. The BOD vote for us to accept this offer because they are complicit in the situation and in too deep now. 2. ASIC arrives late on the scene being overwhelmed and probably under resourced 3. The ASX s by publicly stunned so starts offering excuses as to why the trading halt wasn't enacted sooner but has a paper trail lifejacket. 4. Our largest share holder sees their investment going south and starts looking for a way to recover it. 5 Some Board of directors of FMS start to resign realizing a class action will succeed because they have been acting counter to the interests of the shareholders and its all detailed and clear for all to sea. 6. A class action actually starts and takes time to roll through the court system 7. The action succeeds and past "Directors of FMS" have their homes /assets seized pending sale. 8. Another larger player picks up the pieces, for a revival of the sunken share price. 9. Todd withdraws quietly back to NZ selling of shares to the next player to come over the horizon after the Iron ore boom is past its peak. The Todd defense rests on the O/Seas player who pulled the plug on the deal and the government of the day who legislated to be able to overturn contracts signed with overseas nations in the national interest. Note Of course this is speculation but in the larger scheme of things with a "Fire Sale like offering re todays announcement " from TODD who are tied by contracts to perform or pay up, of course they are going to try to wriggle out of the situation. In what ever form they can and why not use the FMS BOD as scape goats. The only other option they have is to go to court to get relief from the contracts their clever highly paid lawyers drew up for them under Australian laws. Of course I hope this does,nt play out this way but its certainly a possibility. As a long term share holder its so frustrating watching the waste of money, time, and opportunity slip through our fingers yet again ! Thanks go to all who have contributed to the site today with their thoughts and ideas. We shall all see in time, but don't sell your shares because this is not the final act of this play ! So Travted2000, we do need more facts and more importantly oversight by ASIC and should be wary of the offering IMO..
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