The board signed up for hanlong to TO SDL. It never ever mentioned that it was subject to all the BS that it was conditional upon approval from so many other governmental depts from the Chinese including partnering with an SOE. If I knew of this I would have sold out long ago. What a **** up by the board by not doing the due diligence on Hanlong.
Well done GJ. 2 years waiting and again no certainty that it will be finalised in June.
See what we have to go through again as per the SMH. 3 more hurdles.
" But on top of the time required for Hanlong to confirm a deal with a Chinese partner, the deal will also need regulatory approvals from China's Ministry of Commerce and State Administration of Foreign Exchange, as well as a final tick off from the NDRC."
Read more: http://www.smh.com.au/business/chinese-takeover-of-sundance-still-on-20130207-2e17r.html#ixzz2KCRAiTld
announcement out, page-11
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