"* There is a break fee payable by PRH for SLR's costs if the transaction does not proceed for certain reasons. It is unclear whether PRH could actually afford to pay it, meaning that if PRH shareholders vote the scheme down they might bring about the voluntary administration of their own company."
Any "break fee" should be paid by the PRH board if anyone. To write something like that in, at this stage, before shareholders were consulted, borders on blackmail by LSR and idiocy by PRH directors. If that was enforceable, you & I could go around making ridiculously stupid offers for companies and make a fortune out of break fees. Let those who signed this ridiculous deal be liable for the break fee, not the PRH shareholders.
If I was Lord les, I wouldnt try counting my chickens just yet. Some eggs might break and not hatch.
"It will be interesting to watch trading over the next few months. " Not really. I dont think this will last that long.
GZ
PRH Price at posting:
2.5¢ Sentiment: None Disclosure: Held
