Good question. Not my area of expertise but my sense is that...

Good question. Not my area of expertise but my sense is that Zenith won’t have to pay the break fee as it was Elemental who couldn’t complete the scheme as a result of Apex’s blocking position.

I guess if that’s wrong then that will all be taken into account in any new conversation with Apex. I guess as long as the deal is sweet enough for everyone the break fee if applicable maybe quite inconsequential.