The 3 proposed bills create significant investment uncertainty for every company in Tanzania because the goal posts are being moved. Even if these bills do not pass parliament the damage has already been done for sentiment.
The scheme of arrangement for CXX was due to complete tomorrow and that deal has been terminated and unfortunately I would not be surprised if the Chinese either re-price or pull out of the GPX agreement.
And this is why Volt are in such a vulnerable position because they don't have cash to ride out this storm. Anyone looking to fund the company just got an option to either pull out or negotiate much better terms. And do you really think those MOU's and Cooperation Agreements mean anything in this environment.
Ann: Trading Halt, page-35
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