I agree, there will be a fight on.
Any large funds, who want large numbers of free shares in Leo, will want to suppress the price of FFX while they buy. The lower the price of FFX, the more FFX they can buy, therefore the more Free Leo they will receive.
The record date for Free Leo shares is Monday 6th June.
Of course, the directors of Firefinch could have PREVENTED all this volatility and speculation On-Market by making the record date today, Friday 30th April, so why didn't they? I'm confused now, as to their logic, why would they want to permit radical, volatile and manipulated trading in the stock over the next month or so? It doesn't make sense to me, not if they promote an orderly and fair market.
So what you actually get, is a company with two subsidiaries registered in different global locations, for example, one in the Caymans, and the other in the Cook Islands or Nigeria. The company has one account shorting the stock to keep the price down, and the other account purchasing the stock in order to get the most free Leo shares it can. Why would the directors of FFX give these corrupt funds a month to do this? Isn't the market already corrupt enough without giving these funds an additional window in order to practice these rorts? I don't understand it.
Yeah ... I know what you are thinking, they can't do that (you say), isn't it illegal - well .... of course it's illegal, but it happens literally millions of times a year. For goodness sake, don't you realise this is how the rich get richer, they control the system, they make the rules. So good luck trying to get a politician to change these rules, because 80% of all politicians who leave parliament get a consultancy contract with these funds. So we literally can't do anything about it.
However, I did think that the directors of FFX may have tried to stamp out these behaviours by making all record dates today, 29th April 2022. But alas, it's not to be, so the Sharks are all now strategizing their moves over the next month. So it's going to be a bit of a circus unfortunately.
All I can say is roll on 1 July, and let's start a fresh new financial year with a clean slate.
Gw
Expand
