FML 6.67% 14.0¢ focus minerals ltd

questions for the agm, page-13

  1. 2,348 Posts.
    lightbulb Created with Sketch. 224
    Gents,

    1/How does DT and Board see FML shares becoming more interesting to local and foreign investment trusts when the analysts report they presented,indicated the possibility of FML being dropped from the ASX300 and off some funds must buy lists?

    2/Given that one investment trust(+Insurance company)"Tower" has just sold out of another large asx listed manufacturing company and stated for publication when asked why? "We do not see any benefit in being a large or small minority holder in any company with a majority shareholder who is likely to control over 49% and with which we will be unable to have any influence in any way". How does this sentiment concerning another Chinese acquisition of another asx listed company add to FML's desirability for such entities?

    3/How does DT and the Board see these likely realities boosting demand for FML shares and thus benefiting the minority shareholders' future value appreciation aspirations?

    4/Does DT and the Board accept that since the quest for a cornerstone shareholder FML shares have Fallen from 6.4c a share and that many investors,if they had known,myself included would not have been buying at that time at such a price,if they had been made publicly aware and that in the majority,as it was commercially available knowledge that he was looking for a cornerstone shareholder,doing so ardently as he has admitted for many months,without disclosure via the ASX,has this not destroyed shareholder share value ever since,with most shareholders being left in the dark,but commercial market movers and shakers able to pass on such knowledge knowing the full story,allowing others to potentially benefit financially from it to the detriment of existing UNINFORMED minor shareholders?

    5/ Does DT and the board accept on the basis of #4 that Shandong are now receiving an interest in FML for a discount of 22%,if not more?

    6/ Given that Shandong are being offered shares at a material discount with no stated immediate use for this money,is not this destructive for existing shareholders wealth,for no apparent reason?

    7/If FML does desperately need this above money,what material facts,such as future development plans that the company even now currently refuses to disclose to existing shareholders but has disclosed to outside entities to solicit funds(and also is possibly now commercially common knowledge)THEN WHY is it failing to disclose this to shareholders and the ASX?

    7/ Has Shandong not shown a lack of respect for existing shareholders by reducing its original offer of $227.5M cash (ASX announcement)to $225m and spending the saved money(50m shares at 5c)on buying 90m shares on market at less than that figure and accumulating a holding of 90m shares for the 2.7m saved to the time of the analysts report.Equating to around 3c+ a share?

    8/Does DT accept that his actions and those of the Board are responsible for these shareholders that have sold to Shandong having to take the relevant market price and consequential likely loss in investment,caused by this solicited offer from Shandong placing them with no alternative at their time of sale?

    9/ In America this would not all this be seen rather negatively,with solicitors having a field day,if you get my drift?

    DYOR+DYODD What ever happened to full shareholder disclosure via the ASX? Maybe the full ramifications of what has just begun to be played out are only just starting to sink in at Board level along with the risks of them failing to disclose relevant information to shareholders in a timely manner,thus allowing the share price to fall up to 50% for many potential reasons during that time.


 
watchlist Created with Sketch. Add FML (ASX) to my watchlist
(20min delay)
Last
14.0¢
Change
-0.010(6.67%)
Mkt cap ! $40.11M
Open High Low Value Volume
14.5¢ 14.5¢ 14.0¢ $4.532K 31.91K

Buyers (Bids)

No. Vol. Price($)
7 263761 14.0¢
 

Sellers (Offers)

Price($) Vol. No.
15.0¢ 6000 1
View Market Depth
Last trade - 15.59pm 15/07/2024 (20 minute delay) ?
FML (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.