Ann: Havilah Secures Funding of up to $100M from GFG Alliance, page-87

The issue for HAV is the D'coup de ta spooked Mr. Giles.

He wants to continued to be paid a handsome salary for running a public company however he wants.

Gupta deal provides comfort. Current shareholders have already shown him that they would not support the company as is.

The deal with Gupta secures his job. The CRs will come and they will be underwritten by Gupta. He dosn't need retail holders. His salary will allow him to maintain his percentage in the company.

Gupta will be fleecing everyone else who doesn't support the CRs other disenchanted holders like Bob and most retail.

Hence this deal is skewed to Giles. He also has the upper hand he is paid by the company whether his excellent or performing poorly. Until Gupta turns on him in a few years.

But it is more years than Giles surviving with debt from investec or hoping another Bergen comes around and the very last hope retail holders digging deep at ever lower SP CRs with HAV options at ever lower share prices.