Let's look at what we know.
SD now owns 180 million shares or 63% of FML at an investment cost of $248 million, which equates to $1.38 per share. This down from the initial share purchase at $2.50.
What we don't know is which way they will jump?
At this point I can't see them accepting any take over offer below their bale out share price of $1.38.
If they were to buy more for example another 90m @ 0.25 cents, they would own 72% of FML, but each share would still owe them a $1.00.
I think at this time SH between a rock and a hard place, I just hope they take the mining option and get on with it.
Let's look at what we know.SD now owns 180 million shares or 63%...
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Last
14.0¢ |
Change
0.010(7.69%) |
Mkt cap ! $40.11M | |||
| Open | High | Low | Value | Volume |
| 13.0¢ | 14.0¢ | 13.0¢ | $5.124K | 36.62K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 26255 | 13.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 14.0¢ | 2168 | 1 |
View Market Depth
| Last trade - 15.36pm 25/09/2024 (20 minute delay) ? |
| FML (ASX) Chart |