LRS is the one making the announcement and has been in a TH.
The deal for PLP IMO is excellent. 40% stake in JV, 1st million to be funded by LRS, 20m share in LRS over a 12 month period, and 1% of gross revenue (ignores all operating costs etc). LRS pretty much carries most of the initial risk. PLP has acquired close to 50% for doing not much but offer the LMAX tech. This deal will apply to Peru as well and we are yet to hear about that yet. We then have the 50/50 JV with CAS. Its as if PLP just gets cut in 50% of everyone else deal.
Don't think its unreasonable to say, everyone else's good news is 50% our good news
Cheers
SB
LRS is the one making the announcement and has been in a TH. The...
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