What are the possible options for order fulfillment?
1. Selling on market to FFT
It's not going to happen because its taking money out of the company and putting it into the hands of sellers....and not onto the consolidated balance sheet. FFT will not care about a few opportunistic sellers when they have a 15% without shareholder approval mechanism to issue shares to themselves whilst MSP is still beneath compulsory acquisition. Issuing shares via placement will raise money for MSP which they control, raise their shareholding which they control, and the cash stays on the balance sheet. The effect? Will hurt minority shareholders with the issuing of more stock. MSP is the one that is going to bleed cash this year. Not Fft.
25 Million shares at 4 cents is $1 million ..........they are not going to move that amount of coin off the balance sheet... I have labeled the management muppets , but any finance guy worth their money can work that out.
You might say a 15% placement is not enough...........................well so what.........they control company and therefore get shareholder approval for another placement. Unless the strategy I suggest above contravenes some take-over rules which I don't know about, I doubt considering we are talking about the financial health of the target company, FFT has a bunch options available to it to increase its holdings without sending money outside FFT or MSP.
They have show scant regard for minority shareholders...........you are absolutely dreaming if you think they are going to start now.
2. Selling on market to buyer who is not FFT
You would need rocks in your head to buy on market a 4cent MSP share which 4 shares would ultimately convert to a 16 cent FFT share. My math tells me 13 cents is less the 16 cents.......or if I was doing it to get FFT to by I obviously not remembering about point 1.
3. 80% isn't really that far away for compulsory acquisition
As I mentioned yesterday its human nature to wait and see, its also human nature to fear missing out and being stuck in limbo land. Acceptances should rise steadily ............you only need 6 DAYS of 4% increases to hit the target.
As people realise points 1 and 2 ........the acceptances will rise ......
Disclosure ; I do not hold any more. I do want this takeover done.
Today I will start posting on FFT...........
What are the possible options for order fulfillment? 1. Selling...
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