Because of directors unwarranted and unnecessary actions in implementing the latest 1 for 10 reduction ALL shareholders lost 90% of the value of their investment. ( What happened to the previous shareholders value?) My experience shows that this is irredeemable. New money reaped an apparent win. I say apparent because there is nothing whatever to prevent these directors from repeating yet another 1 for 10. This would wipe out 90% of new equity again and present yet another juicy offering for new spinners who tend to overlook the fortunes of the original, then secondary, investors. This ugly duckling has grown up to be an ugly duck. However this is the luck of the draw, no one forced me to buy and I suppose cap losses just decrease cap gains. C'est la vie.
FPL Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
