Also re Anthena facility from June 13 presentation:
No draw down under the Athena facility can occur unless shareholder approval is obtained for the facilities and conditions precedent are satisfied – EGM to obtain shareholder approval scheduled for mid to late July 2013
AND later:
As a consequence:
– the Athena facility will not be drawn down – when Athena terminates the Athena facility (no later than 31 October 2014), a commitment fee will remain payable to Athena under the Athena facility to be funded out of the proceeds from the Offer.
Seems clear enough to me anyway - no shareholder vote no draw down - if there is a legal obligation to hold a vote then hold it & vote NO
I guess there are plenty of grey areas tucked away in the small print & thats what lawyers feed but to the un-educated like me it doesn't seem an issue - vote NO & pay the $2 Mil commitment fee before 31 Oct 2014 - end of story ?
AJL Price at posting:
$1.20 Sentiment: LT Buy Disclosure: Held
