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...
Add FAR (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
45.5¢ |
Change
0.015(3.41%) |
Mkt cap ! $42.04M | |||
| Open | High | Low | Value | Volume |
| 45.5¢ | 46.0¢ | 45.0¢ | $82.38K | 182.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6834 | 45.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 45.5¢ | 24034 | 5 |
View Market Depth
| Last trade - 15.02pm 22/05/2024 (20 minute delay) ? |
|
|||||
|
Last
45.5¢ |
Change
0.015 ( 1.11 %) |
||||
| Open | High | Low | Volume | ||
| 45.5¢ | 45.5¢ | 45.0¢ | 19079 | ||
| Last updated 15.19pm 22/05/2024 ? | |||||
| FAR (ASX) Chart |