Sabine - your notes are accurate. More significantly I infer that if the maximum upside to margin is an additional 2%, the maximum downside if contact price is exceeded is mirrored in being say 2%. This means that even if things go awry to the maximum possible extent NRW can still bank on a normal margin of circa 6% on the revenue and if we shoot the lights out we can get >10% margin. Sounds like a great deal. DYOR
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