Please accept the facts and reality that noteholders have not extended the deal. Tomorrow is the last trading day for ANS/WAPRC to satisfy the conditions in the deal otherwise let us say bye bye to ANS/WAPRC.
Many thanks to the regulator/ASX who challenged the ANS/WAPRC's source of funds and financial strength. We should praise for the ASX's role in imposing the trading suspension for ANS and SDL.
If WAPRC is not able to obtain the Outbound investment of $100 million from China's NDRC Shanghai office within 4 to 6 months and also could not satisfy the conditions in the acquisition deal, do you think that ANS/WAPRC has the financial strength to execute this $6 billion iron ore project? be realistic and starting to accept the reality and facts.
If an acquirer has been given 3 months up to 31 Dec 2018 to satisfy the deal conditions and fail to deliver their promises, it is not a good sign.
Let noteholders take over the controlling equity ownership of SDL based on original deal signed on 30 July 2018 rather than by an unknown company who has failed to meet the conditions of the ASX in regard to relisting and acquisition deal signed in September 2018.
As a debt free company with first right for the mining permit in Cameroon and secured permit in Congo, SDL has its value.
Next time, the SDL board should be more cautious in selecting the potential acquirer or business partners.
