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
50.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $46.20M |
Open | High | Low | Value | Volume |
49.5¢ | 50.0¢ | 49.5¢ | $43.20K | 86.49K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 21776 | 50.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
50.5¢ | 94070 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 33702 | 0.495 |
1 | 99999 | 0.490 |
2 | 104597 | 0.485 |
3 | 160000 | 0.480 |
1 | 100000 | 0.475 |
Price($) | Vol. | No. |
---|---|---|
0.505 | 94070 | 2 |
0.510 | 200000 | 2 |
0.515 | 120000 | 2 |
0.520 | 335203 | 4 |
0.525 | 118000 | 2 |
Last trade - 15.57pm 23/08/2024 (20 minute delay) ? |
FAR (ASX) Chart |
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