fas quarter time score, page-5

Stamp duty will not necessarily incur, see my previous posts on this and also FAS legal position. They will argue that they should instead invest that amount in critical infrastructure and the state govt will waive it. This argument has been successful in the past. Also possible argument is that SD applies against book value of only $12m. The third is that this is a reverse takeover and therefore sd doesn't apply because at 100% acceptance GWR will own less than 90% of FAS and therefore sd doesn't apply. Forthly for the event that sd does apply, FAS have provided an underwritten equity raising. Mulg, I believe the choice will be sufficiently obvious, otherwise they wouldn't have gone to all this trouble.