second strike, page-9

Gents,

Such a concern at a board tip and the ramifications
---OH DEAR----

Lets just say,IF (and it has always been that)the investment trusts holding shares ensure there is one they have many reasons to ensure there will be a competent replacement board to FILL the gaps.They may want the odd specialist member to stay on.They do of course have access to many companies,with GOOD COMPETENT PROVEN board members in this industry,that they are familiar with.
Otherwise they would never have touched FML as an investment.

They also have another reason to make a spectacle here,
That is to ensure they will NOT BE BLATANTLY IGNORED IN THE FUTURE,by any ASX board that thinks they can get rid of them by selling out control under them at NO PREMIUM.
They have been very subtle in their nudging here.They do not appear to have sold down heavily in mass(maybe 1 or 2 have in the last year)

IMHO This board has shown it is not working for them or retail holders interests in the last year since.

That could make this vote very interesting.with a lot of precedents possibly being set here.
When you start thinking the bosses company is your own and start telling him what he will be doing and openly tell him how long you've been going to outsiders,to sell his interest down by disclosing internal information to,that you won't even tell him about as owner.

I think the sack is the least you can expect.
Quietly if they are generally quiet owners,but rather publicly,IF YOU INSIST.Just like apparently occurred at Jaguar,if you read between the lines,Shandongs last attempted buy,for much the same reasons.
That board didn't hesitate,to respond appropriately there.
Sacrificing its immediate share price bid up by impending takeover,for retaining a 400koz low cost operation in the making that will more than compensate holders in 18 months.
Even placing a poison pill option to every shareholder,exercisable if any holder exceeded a certain percentage within 6 months to kill any further takeover offers.

Friday might see some seats becoming very cold,very quickly,with little likelihood of these directors finding any other company that will want them,if that is the case,especially if they might ever need equity from such investment trusts in the future.EFFECTIVELY-Blackballed.
That's why voting NO for the deal means you NEED TO VOTE YES to the board tip as these directors may have blackballed themselves AND FML already with these trusts for the raising of future funds.

They are either for or against this deal.However the vote goes it will be because these holders have either made it,or allowed it to be.They are still holding in the majority,so value FML higher than the share price has been and this FML deal as presented at 5c even.

Does that make FML super cheap or super not is the real question investors should be asking?
So few buyers has to make you wonder?
My opinions obvious,i believe they will attempt to protect the value of their investment here and elsewhere as best they can.To date that is holding to VOTE on this deal.After......?

Remember,once you get a change of Government,the Oppositon's opinions are worth diddly squat.Same here.

DYOR+DYODD Research who were pushing so hard for this TIP rule in the first place and you will understand,it wasn't for Mr retail investor,but likely to protect other such smaller entities to ensure their presence in the ASX market.