Ann: Dispatch of Entitlement Offer Prospectus, page-68

Yep
With SXG holding 10% of NAG I would be VERY surprised if SXG participated in the CR
SXG just needs to be patient, sit back & watch NAG run out of support and funds. Almost there.
Remembering of course that SXG has right of first refusal over NAG properties.
In the box seat!
Also with SXG SP surging it would be very easy for SXG do their own CR at a good rate and take them out. Or a straight out scrip issue.
A lot would have to be written out of NAG balance sheet, if PASS goes nowhere, as undoubtedly all the costs re PASS have been capitalised to date.
2c absolute tops.
1 to 1.5c, or 1 SXG share for every 50 NAG shares.
The noteholders would have to be paid out.
Dont like the idea of having the NAG inner circle (Flogga, Budboi, Welli etc) as SXG shareholders though.