It comes down to dilution ... If BPH have increased their interest in Advent already (from 23% to 36% as I have seen some posters suggest at the BPH forum), then MEC's interest will have diluted as it hasn't put any more money into Advent. So MEC's slice of the PEP11 pie gets smaller.
Further dilution will occur if PDF status is retained by MEC due to the 30% of committed capital rule for PDFs.
It comes down to dilution ... If BPH have increased their...
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