I think the chances of going private are very slim, and would be...

I think the chances of going private are very slim, and would be deeply unpopular with most holders.
Even with the continuous director buying, the float hasn't really changed, and the last sales by directors were to instos at $1.40, and presented as a favour to the market to add liquidity, not the director's desire to sell.

If Simon & Matt are keen to mess with the listing dynamics, which is worth considering to maximise value, I would suggest a dual listing on the NASDAQ would get the best outcome. FLN is a global leader, and would attract many more investors with a US dual listing.
Of course, it adds admin costs and float issues, so is unlikely to be desirable at this low current price. But if it was rumoured to be under consideration, I think we would see a very rapid appreciation as people got set for the launch of ADRs or similar.

Quarterly is due in a couple of weeks, which will be very interesting. I have made 4 purchases in the last month, while everyone is apparently at the beach and not paying attention!