Tomorrow's reading but some things to look out for:
1. Management fees from current parties related to 1AG. Potential to drain the earnings before distributed to shareholders at the 90% claim.
2. Cross-Board representation from the current incumbents in 1AG. Potential to further drain the earnings and no independence of the Board.
3. Their retained holding in CCIL. 15% is low given they are proposing this approach but enough to be a pain in the ass for other key Corporations Act, ASIC and TOP thresholds.
4. Governance and transparency concerns as it will be an unlisted public company.
5. Liquidity of investment proposition, if any.
And then there is the intent for 1AG as the listed entity.
Plenty to chew on that's for sure and some might say at least it is better than the current state of affairs. Maybe so and maybe not. Wonder what SNC are thinking.
