new year

FY10/11 Not a great ending to what showed some exciting results for PIOP and a share price that peaked at 21.5 in Feb/Mar. Price was 8.3 at start of fy and ended at 12,not good ,in my opinion.

I know a lot has been said re.transport being the key to the future success for FMS and I agree with that premise,but I suggest that a major problem the Company is having right now is their credability with the market,caused by the abominable action of the board in the non IO assets of OUR Company being put to a IPO,which seems to be for the benifit of a few individuals who will pocket 30% of the new entity at no cost.How any stockholder would entertain paying 20c per share is difficult in itself,given they will end up with a highly diluted share on listing.FMS will fork out $1.5M for 15m shares at 10c.for assets they own. Now where the deal looks really shoddy is a number of the freebies are going to FMS and FEX Board members and this is beyond the pale.

I cannot see the IPO getting up even after a further extension out to end of September. These assets have not been reported on for months,yet they are part of FMS and need to be reported as such.How new purchases have been acted on by FEX management when FEX does not yet exist astounds me especially when one of those purchases has interests with a FMS Board Member.

Lets hope the Board can clean up its act and give some confidence back to shareholders.

good luck tap