I was referring to the Cornerstone Investor announcement of Sept last year and was wondering if there had been positive announcemnts of money oin the bank: Conditions precedent to completion.
Completion of the transaction is subject to satisfaction or waiver of the following conditions precedentbefore 30 November 2021:
• CATH obtaining the requisite Chinese regulatory approvals for its investment in the ManonoProject;
Break fee arrangements
Following signing of the TIA, CATH will pay a US$20 million break fee (held in an escrow account) whichis payable in the event the required Chinese regulatory approvals are not obtained.
A US$20 million break fee is also payable by each party for any material breach that results in thetermination of the TIA.
AVZI has undertaken not to solicit or engage in discussions in respect of any competing proposal priorto completion of the transaction.
AVZ Price at posting:
92.0¢ Sentiment: Buy Disclosure: Held
