As per previous post, Far Limited conducted a return of Capital...

As per previous post, Far Limited conducted a return of Capital (cash) in short time frame from initial announcement to funds in bank accounts, it has always had me perplexed why these excess funds that is currently held by FFX weren't returned when they decided they could cease funding and walk away with no liabilities.

Is there some merit in what is circulating ?

from a previous post;
https://hotcopper.com.au/threads/ann-quarterly-activities-appendix-5b-cash-flow-report.7810867/page-138?post_id=72332065

An example of an efficient Company at work (I have no idea if they are or not, but I am just using this as an information piece)

Far Limited, announced a return of Capital on the 17th July 2023
On the 31st August 2023, the funds from the return of Capital were paid.
On the 20th September 2023, an announcement detailing the ATO ruling.
Anyone interested:
https://company-announcements.copyright link/asx/far/a7661129-577e-11ee-8e3a-3afff2a0bcba.pdf

cheers
As previous, the excess to operations funds should have already been paid to us ---- why are they holding them???????

From the Quarterly,

"The Company continues with the process of obtaining a class ruling from the Australian Tax Office as to the tax treatment on a return of assets to Firefinch Shareholders. Subject to the outcome of the class ruling, shareholder approval, and the Leo shareholding coming out of ASX escrow in June 2024, the Company may then be in a position to distribute the Leo shares."

This change of language was a concern when the Quarterly was released and even more so now. .. .. .. ..
https://hotcopper.com.au/threads/general-discussion.6308522/page-9766?post_id=72469108

cheers