aed sinopec joint venture...60pct sinopec, page-25

The transaction has not occured.

"The transaction is subject to third-party consents including Government of the People's Republic of China, FIRB and NT Government."

"The parties intend to seek to finalise and execute documentation as soon as practicable, which is expected to be within two weeks."

ie. If an agreement is entered into in respect of this proposal, completion will be subject to a number of customary conditions precedent and subsequent, including governmental and regulatory approvals and certain other third party actions.

However, if it does occur, AED will further explore Puffin and Talbot and of course extinguish its bank debt and repay creditors.

Therefore, I'd strongly urge anyone not to assume anything - particularly when a company such as SIPC is negotiating a majority interest in the company's assets.

It is, IMO, a JV where (perhaps) SIPC is wanting to take control of the company's assets. Nothing more.

End of story. Have a great weekend counting your dollars.