We shouldn't have a tape of the last AGM but unbeknown to me, my conversation with the Board at the last AGM was taped, and in that conversation we were told,
'There is no agreement with BBIG and FMS are not responsible for what BBIG says,' even when I pointed out that BBIG was very specific about naming Flinders Mine as part of their Rail Project Bill with the WA Government - right down to naming the Mining Lease and Exploration Licence.
I was told because BBIG is a private Company they can say what they like yet FMS did not feel inclined to make a statement of refute!
BBIG must have complete knowledge of all information that minority shareholders are excluded from - having his 2 Board Members sitting on the Panel (they even refer to Flinders Mine as a Subsidiary of theirs); and is involved in extending finance to the Flinders Mines on the basis of acquiring specific knowledge and ergo buying more shares in a CR can not be considered speculativeley an even 'playing field' for minority shareholders when asked to make a financial contribution. There is no 'even playing field' - we all know that.
If we are not given all the information that logically should be forthcoming then I think the Take Over Panel application is a wonderful idea.
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