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
16.5¢ |
Change
0.020(13.8%) |
Mkt cap ! $47.28M | |||
| Open | High | Low | Value | Volume |
| 14.5¢ | 16.5¢ | 14.5¢ | $9.976K | 68.80K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 24701 | 14.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.5¢ | 9616 | 2 |
View Market Depth
| Last trade - 16.10pm 27/06/2024 (20 minute delay) ? |
| FML (ASX) Chart |