re: Ann: Notice of Extraordinary General Meet... If you havent...

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