As OOO says Bokarinaboy has the principle correct, but Meridian has declared 19.21% (not the full 24.3% that is held by Citicorp). However the Top 5 shareholders hold in excess of 30%, as per the point Bokarinaboy was making.
As per the point Cujo is making that FAR is being setup for a takeover, as evidenced by the low share price sitting at 3.8 cents. The Top 5 have accumulated at least in excess of 4.25 cents, and most of them more likely a price in excess of 6 to 8 cents.
So if as Cujo proffers (if the interested takeover party is not Meridian), then I cannot see the Top 5 being satisfied with a low ball takeover price of less than 10 cents.
And as Kimbo argues WPL is probably hanging out for CNEs 20% (to balance the risk of being Operator as PC has stated), and needs to stay in the game to carry this intention through. WPL would need to obtain at least 50% of FAR if they are to influence the FAR board.
It is getting interesting, and surely needs to resolved soon.
IMO & DYOR
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50.0¢ |
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Mkt cap ! $46.20M |
Open | High | Low | Value | Volume |
52.5¢ | 52.5¢ | 50.0¢ | $45.91K | 88.73K |
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No. | Vol. | Price($) |
---|---|---|
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Price($) | Vol. | No. |
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50.5¢ | 5982 | 1 |
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No. | Vol. | Price($) |
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1 | 2000 | 0.500 |
2 | 28930 | 0.480 |
2 | 70000 | 0.475 |
3 | 84150 | 0.470 |
2 | 60000 | 0.465 |
Price($) | Vol. | No. |
---|---|---|
0.520 | 50000 | 1 |
0.530 | 10000 | 1 |
0.540 | 22471 | 1 |
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0.590 | 5000 | 1 |
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