Ann: Tabcorp to acquire INTECQ,TAH-ITQ.AX, page-16

OK, how does the "Break Fee" work (Section 9)? What is the Sun Set date?

My reading is that if another bid is announced and it is superior to Tab Corps (and of course we would then want accept that bid), then ITQ needs to pay a break fee to TabCorp?

It would appear that if a superior bid is in fact announced, then the Directors of ITQ are unable to recommend it otherwise the Break Fee will become payable. Are there enough shares not controlled by the directors that the ordinary shareholders could support a superior bid? I don't think the Directors are allowed to accept it either way.