today's numbers, page-211

Hi Harry
You say ;
" ERM are taking the biggest risk here by taking a massive shareholding. If there is no farmin within 2 years, lets hope "

In their announcement they say ;

"The total consideration for the sale ($16.34 million, which may be adjusted subject to Empire’s share price performance) will be funded by vendor finance from ERM Power, repayable by Empire on the earlier of a disposal of the Red Gully processing plant or 24 months from the date of the agreement. AS SECURITY for the vendor finance, Empire will grant ERM Power a SECURITY INTEREST over its ASSETS, including over the RED GULLY PROCESSING PLANT. "

This deal will surely lessen their risk and increase that of shareholders!
With nearly 20% holding they are only a whisker away from making a takeover if they wanted to.
I stand to be corrected in any of my assumptions.
PB