The question it raises is why a 25200 buy needs to be a worked trade. Is the stock that illiquid??? And if so, what are the consequences of such illiquidity?
Alan
Just an odd thought from today, while out'n about.
Could the LOIs contain a condition of SEO securing certain funding levels to be able to see through their commitments under any JV agreement?
This would give reason to the present silence and lack of a closure to them. If this is so presemably the announcements of any MMFs can only be made after (or during!!) the EGM - ignoring any SPhere complications.
Reading the prospectus (again) I'm going with plan A.
It clearly states the fundraising will be used to ensure the successfull completion of at least the first 2 manufacturing plants.
Not might be could be or may be, but will be. Given the tone of a prospectus that lays it on thick about the potential risks, this seems pretty clear to me.
If it will be, but the LOI and contracts are now not able to be talked about, that suggests the finance issue is the key. If it said the funds would hopefully or probably or possibly be used for it I would not be so certain. If the risk factors listed said they may not get contracts for the plants I would have questions.
So I'll stick with finance being the key.
Alan