No. WNI didn't sell FRS yet. Its holding fell due to the lapsing...

No. WNI didn't sell FRS yet. Its holding fell due to the lapsing of its takeover offer. Because its offer was conditional which one of its conditions was to achieve a 90% acceptance, it only boasted its holding to 19.99%. So thoses who accepted WNI's offer will now get their FRS shares again and the offer is officially ended and void.

I have a feeling FRS will hold on its WNI shares until AGO's takeover of FRS completes. I suspect the price then will be alot higher in view of FRS being greater than $1. I think WNI will sell FRS or its converted AGO shares then.

I think right now WNI maybe in talks with IOH to buy up its Central Hub assets to justify its merits in taking over BRM. Another possibility is DMA.

But either way, FRS is good under AGO. AGO's Quarterly report is due soon and we will see AGO being greater than $4, meaning FRS being greater than $1, which is what I believe WNI is waiting for too.