dumping set to continue - 20 mill more , page-27

I think the CR will be after the AGM - they are required to give 1 month notice of a general meeting and have not done so yet. They need a GM to forgive the last CR as they went for the full 15%.

So if notice is released today the earliest is end March for the GM, which is probably too soon to benefit from a pre-spud run in SP.

If they wait for the AGM (which is required by the corps act to be held within 5 months of end of the companies FY) they have until the end of May. They could probably be ready for the AGM in early May.

Given the rig timing is looking more like a May spud and the obvious advantage in waiting until close to spud for the CR I don't think that Nido will call an extraordinary GM to allow a CR, the "ideal" timing for the CR and the usual AGM date are so close that the additional meeting is probably not warranted.

p1000