SPP Ambiguity requires urgent clarification by FAR Management, page-9

  1. 19,072 Posts.
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    That is correct.

    The conditional placement is no longer binding on those 708 investors and institutions, unless they accept the new changes. And in light of the company's inability to raise finance by 31 Dec 2019 (per original agreement), I am sure some 708 investors and institutions would be having second thoughts, so they might pull out.

    Furthermore, the provisional term sheet is no longer relevant, as the amount and dates have changed, rendering the old one, null and void. This means a new term sheet has to be negotiated and issued.

    FAR in essence is back to square one.

    All these new terms and conditons have to be agreed upon and then presented for shareholders to vote, in a few days time.


 
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Last
39.0¢
Change
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Mkt cap ! $36.03M
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39.0¢ 39.0¢ 39.0¢ $39.03K 100.0K

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Price($) Vol. No.
43.0¢ 2000 1
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