OTCQX:FSXLF - Post by User
Comment by
Kn0wNothingon Aug 20, 2020 1:25pm
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Post# 31434528
RE:RE:Leviathan - Trading Restrictions
RE:RE:Leviathan - Trading RestrictionsInteresting thoughts idelweiss and braindeadoldguy
I presume FSX has two options when issuing Leviathan shares.
FSX's intention isn't clear. The notice laclks clarity. It could be interpreted that shareholders can only sell 25% in the first four months, or it could be interpreted that shareholders can only sell 25% after the expiry of the first four months.
Seems to me company has two opotions:
Firstly to issue four classes of ordinary shares A,B,C and D (say) with each class having a different listing date. Then to consolidate all classes at the end of the 16 month peiod into one consolidated class. I guess that must be expensive in terms of TSX costs and would be ruled out. Any one know? As I kn0wnothing.
Second option would be to only allocate 25% of a shareholder's entitlement in four tranches . months 0,4,8 and 12 (say).. So the shares are issued in tranches over 12 maybe 16 months.
Have to say both options seem unsatisfactory to me. For a shareholder, having departed FSX for whatever reason in the 12-16 month period, to remain locked into Leviathian, through no concious decision on his part to be so, doesn't seem equitable. We will all have an element of our today's monetary investment in FSX cut away.and locked away in a box to which we do not have the key. Does seem right to me.
Hope the company monitors this board and addreses these concerns.
LOL to all