Check out the latest qtr report It's obvious, the choice was insolvency or this deal. I would say they're lucky to save the psc and get any deal at all.
The psc contract must have been very close to being terminated, the bonds had still not been paid by TEG. So now the towners can retainer their cosy salaries, Bromley doesn't have to face an ASX enquiry.
I think we all knew a long time ago this was the most likely end result.
Write it off and never return is my motto, just a bunch of sharks.
What the ????, page-3
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