If OZL had stayed independent (unlikely now) then it was likely to have brought in a minority partner, and there would have been a contingency payment, given the sort of pricing they’d have got.
Presuming the scheme with BHP goes ahead, then OZL/BHP will not be bringing in a minority partner, and I see nothing (as a layman in these matters) to trigger a contingency payment.
Surely CPN are tacitly acknowledging this by doing a CR now?
EL
Ann: Proposed issue of securities - CPN, page-4
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