Interesting, page-17

The FFX held shares of Leo Lithium escrow period expires midnight 22nd June 2024, they will be available to trade on the next ASX trading period, being at open on Monday 24th June.

Coincidently from midnight 26th June, Firefinch Limited will be automatically removed from quotation from the ASX bourse commencing the first trading period being the 27th June.

The directors are still engaging Treadstone Resource Partners and legal advisors Gilbert & Tobin with a view for a Corporate transaction via a Scheme of Arrangement (the only avenue they are permitted to deal with the escrow shares other than a T/O)
~ this takes approximately 122 days to complete from the date a SOA is announced.

The last communication from the Company was the Activities Report (period ending Sept 30) and released on 31 October and stated "while the potential transaction is not necessarily contingent on a sale of Morila SA, the process is being impacted by the ongoing Government negotiations and the desire of the interested parties in a disposal of Morila SA occurring.
~ when did Firefinch go from "goodwill discussions" to government negotiations?
~ I also expect that the value now for any proposed Corporate transaction will be hindered and downgraded pending the extent of the fallout (if any) of LLL when it re-admitted to quotation.

Given the events happening with Leo Lithium this last week, and an impeding resolution (possible to be 3, 4 weeks?) to the ongoing negotiations they were engaged in, I suspect that Firefinch will follow suit shortly after with an announcement telling us how much we have been further screwed!

After the goodwill discussions (said with tongue in cheek) are concluded the Company then has to redo the information in the overdue 1/2 yearly (period to end of June 2023) financial report to be completed, then at the end of January the Annual Financial report will be also due.

The first announcement pending (ASX requirement) from the Company will be the Quarterly Activity report, all of 2 maximum sentences will be of any value the rest (IMO) will be regurgitated from the previous with the "leaving no stone unturned" working in the best interest for shareholders to deliver value and liquidity.
With the bill showing how much legal representation in Mali has cost us. Makes one wonder what we paid Gilbert n Tobin for as being the legal advisors allowing the board to make the decision to just pack up tools and walk away from Morila then having to engage higher paid lawyers to get us out of this mess? It really is a pity that the company/lawyers didn't put as much effort into the actual business as they did in thwarting everything we presented during the s249d campaign.

With the aforementioned time frames, any transaction that will need to be approved by the shareholders will coincide with everything else?
The Company will need to hold a Annual General Meeting by the end of March at the latest, which will be the final one for this Company as a listed entity.

If we get the LLL escrow shares returned through a ratio distribution, I anticipate this could take up to 5 months, with a distribution around November - hopefully the Lithium sentiment has returned and the shares will be more value than what they are going to be when LLL opens for trading again - something to keep in mind when making voting choices if there is a SOA.

Based on, the Company cannot offer, sell or distribute the shares until the expiry of the escrow period, which as above is 23rd June.
~ how long will negotiations/consultation with the ATO will it take for it to be approved? to then need to be taken to a General Meeting of shareholders.

Under the regulatory guidance of the ASX a minimum of 4 weeks is required to call a meeting, being delisted it is unclear what time frames are in the Corporations Act (which will be the only regulatory body left for our protection of assets)

Everyone on the shareholder action group mailing list will be receiving an email soon outlining possible strategies we will attempt to take going forward to protect what is remaining of any value that hasn't been stripped in the above processes.

I personally have no confidence nor any remaining trust in the current board of directors.

cheers

ps: @camban it wouldn't be legal for LLL to buy back these shares surely? and honestly for what reason?
~ I also think the tax implications would be too difficult considering the original ruling on the treatment of FFX / LLL cost basis percentages?
~ as it stands with all the assumptions and assertions, LLL is making a payment to the government that will be very interesting reading when they release an announcement telling us all what it is for.
~ legal mumbo jumbo anyone?