This Is What's Wrong With Australia, page-7

Hey Eko,

I have no issue with you sharing your point of views here in Australia nor do I when you've made the decision to not hold MSP or FFT.

We do however have the right as an MSP shareholder to protect our investment and understand how we get to 42% of the merged entity (with synergies).

FFT and BQT have been struggling to get/remain profitable for many years. For whatever reason, AVA Global was set up inside MSP and not FFT.

Company notices answering questions by the ASX (wouldn't answer shareholder questions) highlight that this merger has been discussed for 'months'.

In Cleaves response, he did state that the merger was expected to have an impact on MSP share's price.

For some reason, the decision was taken to place $2m dollars with FFT when this could have been done to outside sources of which would have increased total cash of the merged entity by $2m.

It noted on both FFT and MSP notices that this placement was a good outcome due to synergies.

1 hour after placement the market was paying
4.5 cents but for some reason a price of 3 cents was deemed fair by all parties. A discount of 33 percent. When is a takeover done at such discount?

Being the business person I'm aware that you are, you made the decision to invest elsewhere.

If you were provided an offer for any of your investments at a price below that of what you believe is fair, wouldn't you ask similar questions?

For months and months we researched Chris Fergus, the new team that he brought to AVA Global and therefore MSP. Some have purchased a lot of stock.

At this stage, we have a 9 for 2 offer on the table (pre placement amount) and been promised 'synergies' and a company/dance partner that has missed prior revenue forecasts. Has gone from 70 cents IPO to a share price of 12 cents (pre takeover offer) and are told to believe in the synergies and trust that FFT is about to turn it all around.

So yeah, no wonder it's difficult in Australia if small private traders do their own research buy on market and not via discounted placements and then ask why we're asked to lump 42%.


Ps. No business case/plan has hit the deck yet highlighting what the synergies and savings are. But given the debarcle that clearly played out on that Thursday and that Friday it is clear that the Takeover offer that has been in talks for 'months' clearly wasn't supposed to happen that day.

So I ask everyone, why was it so rushed?


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