Ann: Trading Halt, page-24

thanks for posting this Mike.

I had a re read of the announcement from last December and agree with what you have said in terms of details of the deal and outstanding balances etc.

however just to make sure I and others are on the same page the announcement from Dec says something along the lines off (sorry can’t copy and paste exact quote) 2nd last paragraph page 2.

”due to the number of cashflow positive businesses TNR believes it can secure debt funding for the bulk of the transaction therefore minimising shareholders dilution”

so my interpretation of that is that we still may see some sort of equity component resulting in the issuing of shares to cover part of the deal.

have I missed something in your or others opinion?

thanks