F n B,the only money i see coming out of CRE will be for...

F n B,

the only money i see coming out of CRE will be for directors fees and to repay FML's loan,if they want it out.They certainly HAVEN"T CONVERTED IT TO SHARES YET.It looks very much like that will be up to them as to what happens with it,for some time to come.

The rest will just go into the ground,or into the bank.It's up to the directors,after all if any is ever seen by shareholders as divvies,or capital reductions,or sharebuybacks,or whatever.
CRE directors could always announce an on market buyback of upto say 10% of the company,to reduce the sharefloat outstanding.That may make the final shove,so much easier.

I really do look forward to seeing how many share options directors are given,in the next set of accounts,or if they give themselves shares as payment for services,or someone else who may in the future be more accommmodating.

Independent shareholders have 18% at the moment,i can't remember how many shares/% short FML would be with full conversion of it's loans.If you take out 4% of the shares floating around in the market,would that be enough,after giving the directors a few million as performance shares?

There are still options,while CRE is still listed.But i suspect delisting is but towards the end of march away.

DYOR+DYODD Fun times ahead.FMl only have an interest bearing loan of $11m tied up for 82%.Someone else has around $10m-$11m in cash locked in for 14% and that could be for YEARS YET.Looks like someones all in
but doesn't know how the game can be played.