Im thinking a big part of the problem was they agreed at 3.88 and the sp is well below that level when the second tranche is due to be paid. These guys always sign up for the big discount but things soon change if sp drops. It was easy to see new placement would be discount to current market price as thete seems to be no other way.
I agree with previous posters you can have all the legals you like but if they refuse to pay there will be co s ts to persue. I guess its a lesson that whenever a placement is made it should not be made with the second larger tranche a long time later, just in case sp drops below and buyer bails out.
Ann: Suspension from Official Quotation as at 19 May 2017, page-34
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