FMS 0.43% $1.17 flinders mines limited

OCJ's plans and intentions seem to remain a mystery to all....

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  1. 1,494 Posts.
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    OCJ's plans and intentions seem to remain a mystery to all. Right from the beginning of their involvement they had a programme of buying shares until they achieved just under the 20%. They then seemed to just sit back and watch and even didn't participate (maybe took small portion) of one raising. They seemed to be deliberately keeping their cost base at around 2.8c. They did however participate in most recent issue and also must have bought on market as their holdings are now over 21% and they have approx 50m more shares than they were entitled to under rights issue.
    I cannot find any notice of change in substantial holdings even though their holdings have increased by more than 1% (why?? and surely this has been noted by share registry!?)
    That notice would advise what they purchased on market or elsewhere, however it does start to look like it might have been their broker playing the algos while they accumulated (all just conjecture on my part)
    Perhaps you could surmise they are trying to increase holdings to over 50% of non TIO shares so they will always have a simple majority on any vote, however, this is not necessary as no way would you get 100% of small holders to vote for anything so they would already have decisions not involving Todd in their hands!!
    Perhaps there is nothing to read in any of this but it is clear that their votes will carry the day in those circumstances and we have no idea what discussions or interaction they have with our bod or our majority owner for that matter......................
    Last edited by pe981: 30/10/18
 
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