Ann: Genex Executes New MOU with J-POWER for Kidston Hydro, page-3

This was a must for the market, particularly other energy retailers who might now start pressing knowing they have a 6-month window.

However, the 6-month delay was always going to cost us with a couple of tradeoffs. Our shorter-term contract with EA is known. The bolded condition in today's announcement is new (afaik).

J-POWER to acquire direct or indirect equity in the Project by way of:

• A subscription for new ordinary shares in Genex on terms equivalent or similar to the Share
Subscription Agreement (SSA) signed between the parties and announced to the ASX on 6
June 2019; and/or
• A subscription for new equity securities directly in the Project Special Purpose Corporation
(SPC);

I have no doubts the board have negotiated the most flexible MOU possible purely to have something ready for the AGM, but let us not give our game away just to get this banked. The integrity of our project is intact and will only appreciate.