It’s time for ASIC to act

This is all just total craziness if ASIC allows this behaviour to occur.

Here we have a situation where Todd Corp loans many millions of dollars to a Todd appointed BOD @ FMS, then the Todd appointed BOD @ FMS spend all those millions of dollars loaned to FMS by Todd Corp constructing a deal which IMO blatantly favours Todd Corp.

The minority shareholders have mentioned numerous times to the FMS BOD that this current deal is totally unacceptable and yet the FMS BOD are still continuing to spend Todd Corp borrowed money trying to convince us FMS minority shareholders of the benefits of this blatant one sided deal.

Where are shareholders protections in all of this, surely ASIC must get involved as they did when they found FMS BOD coercive towards its minority shareholders in trying TWICE last year to delist FMS from the ASX, they are now trying yet again to delist FMS’s major asset from the ASX ..... OVER 1.4 BILLION TONNES OF IRON ORE.

This is the the 3rd time the FMS BOD have attempted to remove OUR major asset from the ASX within the past 12 months!!!!!!!!!

ASIC needs to act!

L4L