Extract from the results announcement.
Havilah has been informed by GFG in writing that it reserves all its rights, including its rights under the Share
Subscription Agreement and its entitlement to recover costs incurred since 1 May 2019, against Havilah and Dr
Giles in relation to the conduct of Dr Giles which is inconsistent with the original proposed recommendation of
Dr Giles and support of the Proposed Transaction. The amount of this exposure is not known at this time.
The vote against the resolution now requires Havilah to move in a different direction to extract value from its inground mineral deposits. Furthermore, as a result of this outcome, the $5 million pro-rata rights issue, which
was to be undertaken as part of the Proposed Transaction at a discount to $0.154 per share, will no longer be
proceeding.
Gupta very quick to act to get his expenses back
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