FAR did not have to show interest thru the pre sale months. In fact they only had to wait for Conoco to let them know that they had a buyer for their percentage of the asset and at what price it was selling for, as per the Joint Operating Agreements preemptive rights so that FAR could make a determination on whether or not they wished to match that price as was their legal right to do so. Thats why JOA's contain preemptive clauses within them, so that all participants have an opportunity to reduce their risks and increase their stake.
Obviously Conoco did not do that, hence the arbitration.
This point will not be lost on the ICC Silks... IMO
Email from Cath and Ian, page-277
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Last
49.0¢ |
Change
0.005(1.03%) |
Mkt cap ! $45.28M | |||
| Open | High | Low | Value | Volume |
| 48.0¢ | 50.0¢ | 48.0¢ | $13.87K | 28.54K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 24580 | 48.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 49.0¢ | 16934 | 2 |
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| Last trade - 15.46pm 26/06/2024 (20 minute delay) ? |
| FAR (ASX) Chart |