Chicken and Egg Stuff Zog, page-10

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SirKnight

2,584 Posts.

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30/01/17

17:54

Post #: 22225709
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Originally posted by zog ↑

My view is that whilst GE assigned their 76% exclusively to SLX in the term sheet, they probably did not name a minimum price. If they did then they could lose out handsomely. if they didn't pre-agree a minimum price we could well find ourselves back at square one except for some dilution to SLX due to them keeping the project going when GE and GEH wanted out. I would hope that the term sheet would have clauses in it to ensure that SLX's roughly $10m risk investment over the last 2 years was adequately recompensed. If there was a minimum price we may well find GLE has new owners; however I guess GE could also have conditions in the term sheet which give them pre-emptive rights to buy back all or part of the term sheet holding at the same price offered by the new partners. SLX would normally expect to get adequately rewarded for their costs in peddling the term sheet to new partners and also the risk they took.
At the end of the day it could be good news for all SLX shareholders; that's what the market appears to think (and was your, my and Moosey et al insight (or gamble)).

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Seriously? You reckon SLX and GEH spent weeks agreeing a term sheet without confirming a price (or range of prices based on scenarios)? I don't think so Zog.

SLX Price at posting: 84.0¢ Sentiment: Buy Disclosure: Held
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