I think management, Meridian and Farjoy would want to avoid an EGM as Meridian and Farjoy only have ~30% of register versus a sizeable activist movement. I don't think Meridian and Farjoy would want to risk losing their positions on the board. Given that, I expect we'll see management put something on the table for STAM to consider first and then activists.
An Open Letter to the Board of FAR limited, page-50
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