I would imagine that the voting gives a pretty clear indication of how much support FAS has at this stage. GWR directors did indicate that the capital raising negotiations are in progress and they already have potential investors lined up - none of which are existing gwr shareholders.
I believe the capital raising will be executed asap. Just my opinion but it looks like FAS' best chance of executing this merger has just disappeared with the dilution that is going to come.
I hope for the sake of FAS shareholders that they have something in the pipeline to announce. BUT unfortunately I suspect that if that was the case they would have announced it pre AGM so they could get more support to derail the capital raising.
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capital raising probably approved, page-20
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