re: Ann: Notice of Extraordinary General Meet... If you havent read the background sections I suggest you do. The new cnote will give RCF claim over all bmn assets for only $4m.
If BMN fail to satisfy the terms of the arrangement, they could lose the lot. The enterprise risk of BMN just jumped up a notch.
The new security will
comprise:
- a charge over all of the Company’s present and afteracquired property , interests and rights;
- a charge over the Company’s shares, dividends and otherrights inrespect of Bannerman UK;
- a mortgage and fixed and floating charge over all of Bannerman UK’s assets and undertakings; and
- a pledge over the rights, title and interests held by Bannerman UK in the shares of Bannerman Namibia
Ann: Notice of Extraordinary General Meeting/Prox, page-2
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