Micah got back to me.I asked about whether LNG9 had the money...

Micah got back to me.

I asked about whether LNG9 had the money for the offer and whether they can easily back out.

Here is his response.

LNG9 has (in the Bid Implementation Agreement) warranted to LNGL that it will have sufficient cash amounts available to it to pay the total consideration owing to LNGL shareholders.

Further details regarding LNG9’s sources of funds will be set out in the Bidder’s Statement that LNG9 will send all LNGL shareholders. This should also answer your final question.If the conditions in the BIA are not met, LNG9 will have the option of:

Letting the Offer lapse;• Waiving its 90% minimum acceptance condition and, provided the remaining conditions of the Offer are satisfied or waived, declaring the Offer unconditional, which would entitle LNG9 to acquire those shares tendered into the Offer; or• extending the offer period (for up to a maximum period of 12 months) to see if it can increase its level of acceptances.

If the Offer lapses:• LNG9 will not pay the Offer Price to any shareholders who have accepted the offer; and• LNGL will need to assess its options as a standalone entity. The risks currently facing LNGL, as outlined in the ASX announcement on the 28th of February 2020, would be likely to continue to apply.