Citicorp nominees hold the shares for Meridian Capital International Fund. Meridian is owned by a Kazakhstan billionaire who made his fortune on Oil & Gas. My bet is that Meridian will make a move on FAR to protect their investment. Either a takeover or underwrite a share placement that dilutes the sharebase by at least 50%. A bitter pill and they will get shareholders approval if it means saving the company or selling the company assets at fire sale prices. If FAR was to raise US $150M then the US $300M debt funding becomes a higher probability scenario over the next 12 months. WPL would know Meridian are on the register and would be fully aware that a low bid takeover has no chance of success. The article below may be of some interest.
https://www.occrp.org/en/paradisepapers/kazakhstans-secret-billionaires
Citicorp nominees hold the shares for Meridian Capital...
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Last
46.0¢ |
Change
-0.005(1.08%) |
Mkt cap ! $42.50M | |||
| Open | High | Low | Value | Volume |
| 46.5¢ | 47.0¢ | 45.5¢ | $176.1K | 380.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 98595 | 46.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 46.5¢ | 5000 | 1 |
View Market Depth
| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Last
45.5¢ |
Change
-0.005 ( 2.15 %) |
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| Open | High | Low | Volume | ||
| 45.5¢ | 45.5¢ | 45.5¢ | 675 | ||
| Last updated 11.07am 14/06/2024 ? | |||||
| FAR (ASX) Chart |