The company have said that the $150m payment is based on these mechanics:
Resolute will receive the Upside Sharing Payment from the owners of Ravenswood based on the amount by which the gross money multiple exceeds a minimum threshold up to a cap of A$150 million as follows:· A$7.5 million for each 0.1 that the gross money multiple is above 2.5x up to 4.0x; and· A$5 million for each 0.1 that the gross money multiple is above 4.0x.
Do you have any idea what investment return EMR have made based on the rumored bid prices for Ravenswood?
RSG Price at posting:
40.0¢ Sentiment: Hold Disclosure: Held
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