900mil usd, page-36

Hi Boof,

You need to forget about the debt, MM won't be paying any of it out in this new scenario. They will simply being buying the assets from us for a certain price. It is up to OZL to use the proceeds from the sale of those assets to pay out the debt.

When we try to work out what MM are likely to pay for those assets, based on what they were going to pay in total in the takeover scenario, then we need to add the debt in and not just use the 3.15B shares @ AU$0.825 offer figure.

Regards, GJC.