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A Condition Precedent is an event that must occur before performance under a contract becomes due eg If the ship arrives in port before 10 May the importer will pay all freight and unloading charges.
On 28 Dec the ann. stated PLV had terminated the J.V because the C.P. had not been met. Whatever that C.P. was.

Now in the most recent ann. the termination of the previous JV was due to the perceived ability of PLV to work closely with WEG.

If you presume one ann. is not contradicting the other the condition precedent must be the ability of PLV to work closely with WEG which I don't think is the case.

It also states on May 1 ann. that all conditions precedent have been met and WEG has now been reinstated.

Now what should I believe?
1. WEG didn't fulfill C.D.
2 The perceived inability of PLV to work closely with WEG.

Talk about mixed messages