2m bidder, page-17

Slimdusty, the answer is that AVX built in a no extend clause when they extended the first time. For Tibotec to gain a further extension meant they had to put money on the table. J & J would not provide funding as previously mentioned.

I have copied JC 's reply to my question on this below;

"They remain interested but part of the last extension we agreed that we would not extend again and Tibotec had to place money on the table to continue. So it was purely their own internal reasons. To make it more complicated they are closing down the research site where the group we worked with was based. Some will have to move to another site but a few are uncertain if they will still have their positions. We didn't know this until very recently. "