With this 7 for 1 scrip offer ..
FAS has already diluted itself to close to 500 mill shares ..(it started with 150 mill shares and options of its own before the takeover bidding started) and it only holds 33% of GWR !
FAS market cap is close to $150 mill now with only 33% share
in GWR. It has no value.
With no proven resources of its own FAS will need to make a cash offer from here on to get past the 50%.
If FAS happens to find something substantial with a JORC next to it and/or offers cash of course we'd look at the offer more seriously.
Until then FAS is fooling no one and represents no value whatsoever.
fas takeover of gwr is a joke, page-4
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Last
7.7¢ |
Change
-0.002(2.53%) |
Mkt cap ! $24.73M | |||
| Open | High | Low | Value | Volume |
| 7.6¢ | 7.7¢ | 7.6¢ | $15.85K | 208.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 138000 | 7.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 8.5¢ | 200000 | 1 |
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| Last trade - 13.09pm 26/07/2024 (20 minute delay) ? |
| GWR (ASX) Chart |