Have already said that the major (7 figure) upfront payment occurs when the second part of the agreement is signed. The amount has already been set but the company is not allowed to notify the market yet. No surprise there, but it will eventually show up the reporting. The first part of the agreement will still result in a small upfront component paid this quarter. I'm not certain about the standstill agreement but I suspect it will follow the same model.
I don't want the company again saying after the next 4C that shareholder expectations were too high. They cultivated the perfect environment for the shareholder backlash and I will be contacting them several times to provide constructive feedback and help them manage expectations going forward.
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- Ann: Appendix 4C - March 2017 Quarter
Ann: Appendix 4C - March 2017 Quarter, page-387
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