Today's announcement was not unexpected. Yesterday's carefully...

Today's announcement was not unexpected.

Yesterday's carefully worded announcement included the following comment -

"Firstfolio will release to ASX an updated timetable
for implementation of the Consolidation once it has
GREATER CERTAINTY regarding the timetable for finalisation of the Recapitalisation Proposal."

I still see Resimac as a possible fallback option as they hold 13% of the shares and will be keen to protect their investment.
Likewise Tony Wales (16%) and Mark Flack (4%) are in a similar situation along with CBA - all will be looking for ways to see that the recapitalisation works OR look at any alternatives to ensure FFF gets off 'life support' - not one of these parties will want to be burnt financially (IMHO).

Ho hum - next announcement is due "no later than pre-open of market on Wednesday, 29 January 2014."

DYOR