Ann: Completion of Share Placement, page-5

I understand that it can be cleaner and simpler to offer a raise to sophisticated investors. Also that a SPP can place a short term ceiling on the SP.

The above is true re price, FRX hardly trades, so difficult to establish value. In my rage I also miscalculated the discount (actually 33%). As I stated when they got caught with their pants down with the ASX query, they would only be raising at the price investors were willing to pay. The 4c strike price is the exact same price that the large cross trade went through at late last year. (Cue significant investor (possibly?) upping their stake???, cue Jeff (possibly?) buying in at 4c after selling half his stake to his father????)

I guess if either of the above are true we'll know soon, otherwise assume its misplaced anger.

The only comfort I'm feeling is that I was the one lucky enough to pick up the parcel all time low of 3.7c shortly before last year's raise.

However, given that now FRX appear to be substantially de-risked and that I took significant gamble to 'pick the bottom' the feeling is severely muted.

Thankfully I wasn't involved at IPO, if anyone is here is, I feel for you, and hope you join me in speaking up to vent your frustration!

If FRX come out next week at the AGM with an impressive looking update, I'll not only be furious, I'll be considering further action.

For now, I'll be voting with every share against all measures at the AGM, and encourage anyone else who feels jilted to do the same.

(No, it won't make a difference, but at least it sends a small message).

@flexiroam it would be lovely if you could provide us 2nd class citizen shareholders with an update, don't worry I won't be holding my breath.

TPM/Voda would have no impact on FRX. I believe FRX would derive less than 5% of their revenue from Aussies. On that note, thankfully I do hold TPM or I'd be in an even worse mood!

I do agree that the raise should be enough to see FRX through. ~230m shares on issue. If raising costs are negligible, I will offer an unreserved apology.