It is pretty clear that you, the same as tolate, did not read or understand the company announcement properly.
This is actually what it says:
CATH will pay AVZ US$259.25m to acquire a 30.5% indirect interest in the Manono Project, through the acquisition of shares in Green Lithium Holding Lte. Ltd (GLH) (a wholly owned subsidiary of AVZ International Pty Ltd (AVZI) and the holder of legal title to AVZ's interest in Dathcom Mining SA (Dathcom)), on satisfaction of certain conditions precedent, including grant of a mining licence for the project area covered by PR 13359 (Mining Licence) to Dathcom; - AVZ and CATH will enter a multi-faceted joint venture to develop the Manono Project.
As I responded to tolate in a previous post INDIRECT.
You guys should take the word INDIRECT serious, it is important.
If you have questions about what it really means in this context, look it up and don't shoot yourself in the foot.
We have established that GLH, the legal title holder of AVZ's interest in Dathcom mining at this stage, holds a majority stake in Dathcom mining of 75%, the other 25% is being held by minority holder Cominiere.
Now according to the announcement Cath will pay AVZ US$259.25m to acquire a 30.5% INDIRECT interest in the Manono Project through the acquisition of SHARES IN GLH.
I hope we can agree so far that GLH is the majority holder of legal title to AVZ's interest in Dathcom Mining and that Cath does not acquire a direct interest in Dathcom Mining, but acquires a 30.5% indirect interest in Dathcom Mining through the acquisition of GLH shares.
Now next step...
Cath needs to acquire 100/75 x 30.5% = 40.67 % shares in GLH, to give it an INDIRECT holding in the Manono Project of 30.5%, the remaining 59.33% of GLH stays under control of AVZ, via AVZI the holder of GLH.
Next question...
Who holds control over GLH?
It is not hard to work out that AVZ via AVZI is with 59.33% the majority holder in GLH and Cath with an interest of 40.67% is the minority holder in GLH.
So to make the story short...
GLH is the majority holder in Dathcom and AVZ is the majority holder in GLH.
I am sorry that I had to explain this the long and winded way, but it was obvious you did not have a clue the normal way, reading your previous posts, especially the last one.
I hope you can agree it didn't look smart.
I also hope your team (you mentioned 'we', so I assume you do not operate as a single entity) does also understand that there were several reasons why AVZ had to make this arrangement via GLH.
GLH, incorporated on 8 March 2022, it is not something that happened yesterday.
So if you do read all annual reports, you could have known.
It was mentioned in the annual report.
I hope this helps your team, whoever , or whatever they represent.
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