It's a fair question no doubt. I'll try my best to explain what...

It's a fair question no doubt. I'll try my best to explain what I understand from this announcement.

Basically River capital and Regal have entered into a funding co-operation agreement in order to take pacific current private. As far as I understand Regal is acting as an associate to River capital but neither party controls the shares and voting rights of either party, they are just in agreement to put forward this offer. Importantly, cumulatively the co-operation has influence over 16,459,645 voting rights of pacific current.

"There is no agreement, arrangement or understanding between RPL or River Capital or their respective related bodies corporate in respect of the ownership, disposal or voting of, the PAC shares owned by each other or their related bodies". Meaning although they have entered into an funding agreement they aren't acting together to buy/sell their shares, this is more or less just a legal disclaimer.

Under this funding Co-operation agreement, River Capital and Regal partners have jointly decided to work together in order to explore funding options, primarily this includes the possibility of River Capital providing funding in connection with the proposed non-binding proposal by Regal partners.

As far as I understand this announcement is just a change in holding and only important as it effectively adds weight to Regals offer as the 2 largest shareholders of the business is in support of the takeover offer.

If anyone wants to add more, feel welcome to, this announcement isn't price sensitive and therefore isn't likely to materially influence the share price / market capitalisation of PAC.