I can't shake the vision I have of Francesco Mazzagatti sitting in the grandstands screaming at Chris Lewis as Chris drives Francesco's Maserati around and around the track in 1st gear.
Whether they are at 60% or 80% Rockrose/Viaro are the majority partner, they will be the operator and they have a massive incentive to get this project capex spent to offset the windfall taxes they are paying every single day. The re-negotiated HHR deal with 100% funding is an indication of how far RR are prepared to go to get this project in motion. If it wasn't for the bizarre tax conditions in the UK I believe RR would have simply bought HHR out after they were unable to obtain finance.
Any frustration we feel as minority SH's must be dwarfed by RR exposure to this project. It would make sense for HHR to hand operatorship to RR and let them use their scale and resources to get this project going.
A live project will benefit HHR's SP. It doesn't matter who is the operator that brings it home. It really is time to hand over the keys.
Q1 - 2024, page-144
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Mkt cap ! $19.66M | |||
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