General discussion, page-9867

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suds100

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24/04/24

09:44

Post #: 73490406
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Originally posted by camban: ↑

As I think @fooca pointed out, the language around distribution of LLL shares to FFX holders became even more vague after the company’s last reference to the matter. It is by no means a certainty imo. I would almost wager (“almost” because this company is totally unreliable so all bets are off) that directors have informally planned all along to see this company removed from the ASX so that they can continue to try to sweep everything under the carpet. The attempted 249D came as a threat to this, hence the big effort to stop it and to not then use that opportunity to offer to appoint an extra director from the candidates put forward, as a way of extending an olive branch and soothing clearly upset retail holders. They didn’t want any new eyes on this. The company’s continuing & imo deliberate lack of engagement with shareholders just furthers my suspicions that they just don’t want ASX holding them to the Listing Rules any longer, removing some (but admittedly not all) elements of protection for us.

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I think you are correct and they have had all this mapped out from the time Lowe came on board, which was October 2022. The 249D was a minor hiccup for them. They will milk this until the end, which will be when the bank balance is zero and they resign.

FFX Price at posting: 20.0¢ Sentiment: Hold Disclosure: Held
14 Upvote

0 Great analysis

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General discussion, page-9867

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