I cant speak on behalf of them as i have no idea who they are, but they could want to get in prior to the test results as they would have done their own DD and satisfied themselves that the risk/reward tradeoff stacked up. In fact, the announcement today said there was detailed DD so I suspect that was the case.
And yes, they are waiting to see how the EGM plays out! If the current directors get removed, then this potential investor will move onto the next investment and leave KFE high and dry.
As I said, its a simple equation. And this would not be the case if the 249D proposal wasnt in existence (or was removed).
Ann: Capital Raising Update, page-44
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