I've watched with interest the events unfolding and all signs...

I've watched with interest the events unfolding and all signs point to my suspicions that FAS cannot viably complete this takeover.

There has been speculation that FAS will rise in value in tandem with GWR. However I would urge caution to anyone aiming at buying into FAS to get leverage into GWR. The last substantial shareholder notice that I have found from a cursory look was from the 11th of January and at this point FAS was the beneficial owner of just 829,506 GWR shares with the balance of the 33 million shares only under a beneficial interest. This may mean that FAS may never legally become the owner of these shares - and therefore cannot derive value from them.

I suspect the bulk of the 33m shares are those held by Doutch and his associates who as we know essentially appear to control FAS. I have always voiced my concern that though they appeared to accept FAS' offer early, the ownership of the shares seemed to remain with Doutch. Do you really think he will hand over his millions of shares in GWR if the takeover fails just to prop up a rapidly failing company like FAS??

I really feel bad for any GWR shareholders who accepted and were issued FAS shares as they have not been treated equally. They are now stuck with FAS shares whilst mates of FAS may be free to take their GWR shares back??

If you are a FAS investor I would urge for immediate and unambigous clarity on this issue. Contact your company and voice your concerns. Many who have bought into FAS may have done so on the assumption that they own directly the 34 million GWR shares they so often speak of. What happens if they only have a few hundred thousand shares to sell for cash instead of millions? Would you have made the same investment decision?