Firstly it would scuttle the finance raise through ExIm, Coface, etc.
Secondly the convertible notes have been issued and don't convert to shares until 2018 anyway [except as outlined]
Thirdly, with all of the largest holdings in the hands of the few who will vote yes anyway it would be only a futile and forlorn cry in the wilderness.
At least we know that the latest date now for commencement of commercial operation of Jabiru1 is 31st January 2016 being the "Project Completion Long Stop Date" after which Newsat would be in default regarding the T&C of the convertible notes.
The EGM and the voting therefore are only compulsory regulatory housekeeping for the financial raising we had to have.
NWT Price at posting:
39.0¢ Sentiment: Hold Disclosure: Held
