I think it was resolution 9 at the last AGM - Partial takeovers.
If board and FJ reject an offer still goes to a vote at a special general meeting requiring 75%.
However without FJ (~ 11%) the suitor will have to obtain (75/89)% ~ 85% of remaining shareholder votes for the takeover to proceed.
This resolution was to avoid the situation of say 51% suitor 49% minority interest.
There is no real need to takeover any of the JV partners, when could simply buy out the JV partners interest in the Senegal lease. At the end of the day why would a suitor be interested in the other assets if they are of no bolt on value.
If the next round of drilling is successful FAR will be in a very good position to get finance. I can see the company going along way yet, provided the right price doesn't pop up in the meantime.
DYOR IMO etc
- Forums
- ASX - By Stock
- FAR
- T5 oil & Gas
T5 oil & Gas, page-24
-
- There are more pages in this discussion • 11 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FAR (ASX) to my watchlist
|
|||||
Last
50.0¢ |
Change
0.005(1.01%) |
Mkt cap ! $46.20M |
Open | High | Low | Value | Volume |
50.0¢ | 50.5¢ | 49.5¢ | $12.74K | 25.29K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 89162 | 49.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
50.0¢ | 2297 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 89162 | 0.495 |
1 | 99999 | 0.490 |
3 | 114597 | 0.485 |
4 | 260000 | 0.480 |
1 | 100000 | 0.475 |
Price($) | Vol. | No. |
---|---|---|
0.500 | 2297 | 1 |
0.505 | 88712 | 1 |
0.510 | 112672 | 2 |
0.515 | 120000 | 2 |
0.520 | 149917 | 3 |
Last trade - 16.10pm 15/08/2024 (20 minute delay) ? |
Featured News
FAR (ASX) Chart |
The Watchlist
I88
INFINI RESOURCES LIMITED
Charles Armstrong, CEO & Managing Director
Charles Armstrong
CEO & Managing Director
SPONSORED BY The Market Online