I am now of the belief that this is a "Fait accompli" after going over todays announcement. What I gleaned is the following:
Monash will be trying their hardest to get the $4 million to ECT by next Thursday
Failing that, they have promised to purchase the same number of shares but roughly at market price
Either way, ECT will get at least $4 million or possibly $6 million. I don't think these types of announcements are made lightly considering the strict rules ASIC and ASX impose on companies for making false or misleading announcements.
So I'm happier now than what I was yesterday. Today's announcement could have said "sorry but the deal is off". Well it didn't and there is a plan B in there as well. All parties seem committed to me.
ESI Price at posting:
1.8¢ Sentiment: Hold Disclosure: Held
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