Hi All
I expect shareholders won't see any return. At best a company shell with tax losses. If it's recapitalised you may get a 0.5% return from your invested capital at best.
I have faced the fact that my investment is 100% lost.
For those retirees who had MFS shares as a major investment in your portfolio, I weep for you.
For the prior MFS Directors, ASIC and ASX Regulators - I hold your actions and behaviour as contemptible. ASX giving approval to MFS managers to sell 65% of the only valuable asset at a bargain basement price without the owners (the SHAREHOLDERS) approval is frightening.
I believe once this happened MFS was finished. The debts were insurmountable. There was no way back.
Total Failure by ASX to enforce continuous disclosure by MFS. Also frightening. It meant the Investing public was deliberately uninformed and kept in the dark. To them everything was okay when it wasn't.
In retrospect MFS should have been brought to account 12 months ago. I now believe it's been a house of cards for a long long time and I should have been smart enough to smell a rat a long time ago. Hedge Funds who shorted the crap out of MFS before it crashed were fully informed and premediated in their actions. Mums and Dads were screwed to the wall. Hedge Funds got rich on their misery.
I was just another mug investor who believed that the Directors actually knew what they were doing and the fall in price in early Jan 08 was a short term correction. What a 100% Fool I was!
Regards and enjoy your weekend. At least the sun still shines. Praise God the Father
Phil
OCV
octaviar limited
