Ann: Offtake Prepayment MOU, page-41

Its all very unclear what is going on here (as usual).

What is the purpose of this MOU? Why not keep the process competitive if there is so much inbound interest. Let all those companies into the data room and then once then let them come forward with their offers. Or is the reason this MOU is in place to force the hands of other parties? In which case Galan scraps the MOU?

This looks to me like Chemphys were the only company (or the first) that want to take this to DD so Galan have got the MOU signed so it can be presented to the market to show progress.

I asked previously what 'shortlisted companies' meant and some were basically saying the these companies are ready to go and Galan were deciding. I don't think that was the case at all. They were just companies that Galan had approached I think with their product. None of the shortlisted companies had done any DD on Galan.