Dear Members,The final part of the announcement is the telling...

Dear Members,

The final part of the announcement is the telling part:-

"Should St Barbara lose the Binding Genesis Transaction either as a result of (i) disruption to the shareholder meeting, or (ii) undue
delay resulting from the distraction of St Barbara engaging with Silver Lake, then:
• The $400 million Genesis capital raising that delivers the funding requirements to establish both the Leonora Operations
and St Barbara’s overseas assets will also terminate;
• St Barbara is likely to again breach debt covenants at 30 June 2023 and with the transaction uncertainty will lose the
basis of the waiver of the 31 December 2022 covenant breach; and
• Workforce uncertainty can be expected to create additional operating pressures at Leonora in particular."

Translation:- 'The company has been so poorly managed, although GMD may not be our best result, we're obliged to deal with them because if we don't our debt covenants will be breached and then the company is really screwed...' Some rationale for proceeding with GMD!

I feel sick...