FAR the book, page-33

I'm agree with you WN and have said so.
However I am sure that WPL will have covered their bases and have a plan.
I'm sure WPL doesn't intend to walk away empty handed if at all possible.
Sure as hope CNE exercise so the only way WPL doesn't leave empty handed is to have a deal where FAR exercises as well (presumably funded by WPl) and WPL forced to T/O FAR for 25% on market, FJ trying to keep them honest.
Else CNE exercises then sells down to WPL at higher price (CNE clips the ticket). Triggers pre emptive as well but FAR doesn't have the ability to exercise.
Side deal with CNE could already well be in place??? Plus CNE selling down a bit extra.
In that case FAR still needs a knight to want a bit of the action. To fund FAR's 10% for 25% and pre empt and screw any CNE WPL deal!!
No knight and FAR left out in cold. Has WPL already got foot on FAR's throat making FAR unattractive to that knight.
Else side deal with FAR ( WPL funded ) to exercise hoping that CNE doesn't, for 35%, WPL then takes over FAR for 50%.
Else WPL has side deal with both CNE and FAR and it is all agreed and carved up behind the scenes.
Either there is a on market T/O or.
Likely WPL becomes FAR's "welcomed cornerstone investor", aka FAR's "bitch".Gag!!!!!

Please correct me, but I don't believe that there is time for an on market T/O of CNE or FAR so it seems to me that this will all be done via back room deals.
As such I don't expect much news or any action until after the expiry of the pre emptive window.