Ann: Trading Halt, page-15

At the risk of being jumped on again by a frequent, very frequent, poster here who doesn't read much, I want to question the chances we have for Oz Minerals or BHP to part with the $20 million Contingent Consideration. Here we have a change of control over the whole company, not a sale of a particular asset by Oz. So, for me, at the moment, I can't get away from thinking that there's little chance of CPN getting the $20m on board. Hope I'm wrong.

Here's the quote

As part of the transaction, Caspin will hold the right to receive a potential payment by OZ Minerals in two potential scenarios up to an aggregate cap of A$20 million (Contingent Consideration). In the first scenario, if OZ Minerals disposes of 30% or more of its interest in the West Musgrave Project to a third party and the sale price implies a value for 30% of West Musgrave equal to or greater than A$76 million (Implied Value), OZ Minerals will pay Caspin Contingent Consideration of A$10 million, plus up to a further A$10 million (payable at a rate of A$0.20 for each dollar of value exceeding the Implied Value). If OZ Minerals sells less than a 30% interest, the Contingent Consideration shall be calculated on a pro-rata basis (i.e. if 15% is sold, the Contingent Consideration will be 50% of the amount payable for a sale of 30% or more). In the second scenario, if OZ Minerals sells 30% or more of the contained nickel at West Musgrave to a strategic party, it will pay an amount of A$10 million to Caspin. If OZ Minerals sells less than 30% of the contained nickel, the Contingent Consideration shall be calculated based on a pro-rata basis (i.e. if 15% is sold, the Contingent Consideration will be 50% of the A$10 million).