Ann: Binding Transaction Implementation Deed with SQM, page-316

The issue is not that the price could not go north of the TO price eventually if the deal is scuppered, and the scheme is subject to no one holding 19pc or more (Gina already has 15pc) ; the issue is would you be prepared to see AZS price fall below the $3.50 when it fails and that you could have sold them to Gina and buy back at a price considerably less. LT holders could still ride this horse. If the deal is killed and the price drops back to $2.50, you could buy back then and the difference is $100k for every 100k shares held. This is not hindsight is great if and when the deal is killed as proven to be the case in LTR. In fact, it would late already given that Gina only has 4pc left to buy as many could be scrambling to take this opportunity before it disappears. Staying put would be Buy and Hold without logical assessment.