As OOO says Bokarinaboy has the principle correct, but Meridian...

As OOO says Bokarinaboy has the principle correct, but Meridian has declared 19.21% (not the full 24.3% that is held by Citicorp). However the Top 5 shareholders hold in excess of 30%, as per the point Bokarinaboy was making.

As per the point Cujo is making that FAR is being setup for a takeover, as evidenced by the low share price sitting at 3.8 cents. The Top 5 have accumulated at least in excess of 4.25 cents, and most of them more likely a price in excess of 6 to 8 cents.

So if as Cujo proffers (if the interested takeover party is not Meridian), then I cannot see the Top 5 being satisfied with a low ball takeover price of less than 10 cents.

And as Kimbo argues WPL is probably hanging out for CNEs 20% (to balance the risk of being Operator as PC has stated), and needs to stay in the game to carry this intention through. WPL would need to obtain at least 50% of FAR if they are to influence the FAR board.

It is getting interesting, and surely needs to resolved soon.

IMO & DYOR