it wont solve the problem ......so its just a side-show!
1. if a major shareholder, that supported the last cap raise - elected to vote "no" - then FAR would be insolvent.
2. major shareholders understand ALL this - and would want to maximise any remaining value ........
3. the FPSO has been brought by the JV - when does it have to be paid for ?
so - management can try and "drag-out" the process .......basically the cash in the parent will end up in JV accounts to pay for what has already been ordered ........this means a ticking clock
management CAN NOT preserve value in the current "vehicle" b/c its not funded ......
the only remaining option is to "merge" with an entity that wants this risk-reward play, and has the ability to fund.
the statements in the AR "consider non-payment" kinda highlights non-preservation of value" and more abt preservation of job.............
hopefully, for all holders - management act rationally .................its probably a big ask......
equally obvious - you are not going to get anywhere near full value in the current environment .....
2-3c would be "full" ......
does grant any acquirer a call option over OP ....
rgds
V_H
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Last
49.0¢ |
Change
0.005(1.03%) |
Mkt cap ! $45.28M |
Open | High | Low | Value | Volume |
48.5¢ | 49.0¢ | 48.5¢ | $11.35K | 23.29K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 50000 | 49.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
49.5¢ | 30000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 50000 | 0.490 |
2 | 28052 | 0.485 |
4 | 87930 | 0.480 |
3 | 85000 | 0.475 |
2 | 78150 | 0.470 |
Price($) | Vol. | No. |
---|---|---|
0.495 | 30000 | 1 |
0.500 | 9300 | 1 |
0.505 | 10000 | 1 |
0.510 | 129688 | 3 |
0.515 | 2239 | 1 |
Last trade - 10.33am 23/07/2024 (20 minute delay) ? |
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