I have just had a quick squiz at the Share Sale Agreement and noticed clause 9 Warranties, subsection (i) where it states:
As at the date of this Agreement, to the best of the Sellers knowledge, the Company has not directly or indirectly disposed of or dealt with any of the Sturec concessions or entered into any agreement or option to dispose of or deal with any of the concessions at a valuation lower than US$81 million.
Please excuse my ignorance of such matters but why is the US$81 million specifically stipulated?
Is it the case that the purchaser has agreed to buy the shares with knowledge of a subsequent deal valued at US$81 million?
US$81m = A$119.74m / 196,858,383 SOI = $0.608/share
Wishful thinking perhaps?....
MTC Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
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