Extract from the results announcement. Havilah has been informed by GFG in writing that it reserves all its rights, including its rights under the Share Subscription Agreement and its entitlement to recover costs incurred since 1 May 2019, against Havilah and Dr Giles in relation to the conduct of Dr Giles which is inconsistent with the original proposed recommendation of Dr Giles and support of the Proposed Transaction. The amount of this exposure is not known at this time. The vote against the resolution now requires Havilah to move in a different direction to extract value from its inground mineral deposits. Furthermore, as a result of this outcome, the $5 million pro-rata rights issue, which was to be undertaken as part of the Proposed Transaction at a discount to $0.154 per share, will no longer be proceeding.
Gupta very quick to act to get his expenses back
HAV Price at posting:
13.0¢ Sentiment: None Disclosure: Held
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