Ann: DDH1 and Perenti Scheme Implementation Agreement, page-20

-- DDH now has a "floating basement price" based on the t/o offer.
-- The September Scheme meeting seems a long way off, even with lawyers' fees...
-- This isn't a predatory bid so I'm not holding my breath for a white knight.
-- Another bidder though may appear: a) the ample delay gives time to do diligence with the aim of a new bid; b) the opening bid is too cheap, and;
c) PRN may up their bid.
-- If there's an "absence of a superior proposal and subject to the Independent Expert" approval then PRN will get the keys in October.

Specialists (there's even an LIC) in trading t/o bids now have control of the sp without a competing bid.

Regardless, DDH is in play.

OV
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