Yes, no doubt they would like that, but as we have mentioned many times hopefully those that have dug in will take up their entitlement and keep things the same. There will be some that won't (can't) accept however would expect this to be fairly small no and TIO equity shoudl only grow slightly. Am sure they are well aware of this and doubt if they have been relying on this strategy to increase their equity
Personally think FMS was going to need money soon and doubt if a CR would (could) be arranged in the middle of a takeover offer, so loan from PIO at least kept things going until CR can be done. Looked to me like it was done in a fair manner with disclosures ensuring it was not anything ASIC could look at!
TIO have committed to their full entitlement so up to the rest of us to follow that support
FMS Price at posting:
2.3¢ Sentiment: None Disclosure: Held
