Unless you have a copy of this JOA, you are only speculating.
I have seen many agreements whereby after the first purchase, PE right is extinguished on that original percentage.
If this is the case, FAR would be able to on-sell that 35% without triggering PE right for Petrosen and CNE.
There is also another way FAR can get funding - they can issue new shares to the new buyer - say up to 49% of shares in FAR and the rest in convertible notes.
Plenty of ways to get funding
Email from Cath and Ian, page-87
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Last
49.8¢ |
Change
0.008(1.53%) |
Mkt cap ! $45.97M | |||
| Open | High | Low | Value | Volume |
| 49.5¢ | 50.0¢ | 49.5¢ | $30.11K | 60.84K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 26546 | 49.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 50.0¢ | 16813 | 1 |
View Market Depth
| Last trade - 15.43pm 05/09/2024 (20 minute delay) ? |
| FAR (ASX) Chart |