"The shares issued under the Placement are conditional upon gaining shareholder approval at a General Meeting to be held on or around 16 January 2020 and on the receipt of a credit approved Term Sheet for an underwritten US$350 million senior debt facility by 31 December 2019."
Well, we know they got shareholder approval. Now they failed to meet the Dec 31st deadline and also failed to get a term sheet underwritten for the entire US $350M. I'm not a lawyer but their incompetence through not putting out an amended prospectus may be their undoing as it could probably be successfully argued in court that the terms of the placement were not met.
Hey there Phill...
How does one answer to that? "My dog ate my homework" isn't going to cut the mustard. Very insightful point, but it makes me ill to consider it.
Be well, -walk
FAR Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
(20min delay)