Ann: Half Yearly Report and Accounts, page-5

How about the audacity to state that applications were submitted to the takeover panel and Flinders and TIO made undertakings......
Forgot to leave out the bit about the Takeover Panel finding that the attempt to delist by the directors was flawed and a finding a "Declaration of Unacceptable Circumstances"
Declaration

The delisting proposed by Flinders Mines was likely to result in Flinders Mines, and indirectly TIO, acquiring a substantial interest in Flinders Mines:

• in a manner that was likely to coerce Flinders Mines’ shareholders (other than TIO) to sell their shares
• in a market that would not be sufficiently efficient, competitive and informed
• from shareholders who would not have reasonable time to consider the on-market buy-back, and enough information to assess its merits and
• in a manner that may deny shareholders who sell their shares a reasonable and equal opportunity to participate in benefits accruing to those who buy or retain Flinders Mines shares.

This is the behaviour of our own directors we pay! and they use our shareholder funds to pay legal fees to defend this action!  
Coercing us to sell our shares... They are supposedly engaged under the explicit objective of growing the value of them! and what has the strategy achieved >50% loss of value.


The Directors need to step down immediately.  They have a duty and responsibility to ensure FMS is administered by a truly independent board which does not exist presently.