Forum Archive Index - November 2000
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Re: [sharechat] FFS saga.
IMHO FLC's would (should) really be kicking themselves over what has happened with FFS and the whole FLC restructure. They have effectively let the share slide to penny dreadful status - something IMO that should not bestow it. The whole saga of restructuring FLC has been shambolic and really unprofessional, not only on the part of FLC but also its many advisers.
To sort out all of FFS's problems IMO is a task that is far beyond FLC's capabilities. IMO they are just sitting on the sidelines at the moment waiting for a suitor to come along and take whole mess of their hands. If you had been in the hunt at $0.80, imagine what you would be thinking now.
IMHO FFS will be off the NZSE board by the end of the first quarter next year (offer in the vicinity of $0.40-0.45 per share).
>From: Brian Gale
>Reply-To: sharechat@sharechat.co.nz
>To: sharechat@sharechat.co.nz
>Subject: [sharechat] FFS saga.
>Date: Tue, 28 Nov 2000 12:57:59 +1300
>
>
>With the rights now at 0.2 cents - not even worth selling -
>brokerage would
>absorb that.
>
>The question now for unfortunates like me is what to do ? The only
>advantage with taking up the rights as opposed to buying shares at
>the same
>price is the brokerage.
>
>With the unknown outcome of the CRITIC and Bank Loan factors the
>over-riding question is whether it is prudent to get deeper into
>this sorry
>mess. Obviously funds from the share issue will have to be used to
>help
>sort out the loan question, the unknown is how much and where that
>will
>leave the future prospects of the Company.
>
> There is underlying strength and 25cents could be cheap, if the
>above
>factors are sorted out - only time will tell.
>
>Comments please.
>
>BG
>
>
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