Very true but at the EGM this was a stipulation. The shares...

Very true but at the EGM this was a stipulation.

The shares issued under the Placement are conditional upon gaining shareholder approval at a General Meeting to be held on or around 16 January 2020 and on the receipt of a credit approved Term Sheet for an underwritten US$350 million senior debt facility by 31 December 2019.

The got the approval at the EGM but the main sticking point was the above.
IMO the term sheet has not been met which was one of the terms of the placement when it was voted on yet it was passed.
We think we are all silly buying in, imagine how foolish the big boys are.
Only FARJOY was awake to it by not applying for any extra shares.
You are right no action at this moment has taken place but I will wait till the results of the AGM come through to see if there is any revolt.
Normally when this dire situation occurs in a company we get resignations shortly before or at the time of an AGM.
Its inconceivable these 2 directors get voted in and if they do after this debacle it will be a major shock and prove those investors who put money into these major shareholders to trust them to act in their interests will be as much of a sham as management of FAR looking after shareholder interests.
As for the remuneration report as of the 31st December, which was the date the term sheet approval, that was not met so the remuneration report should be shouted down as that would be their only avenue to show their disgust.

Yes in my post I said the money raised will be gone in 6 months so where will that leave this big holders who obviously chipped in the cash believing management spiel.
Surely they were not told whatever happens the share price will look after itself.
So there are avenues where large holders can vent their disaproval.