The acquisition proposal announcement contained two separate parts. The first part is the sale of Benny Wu's 9.9% shareholding and "the terms sheet for the Wu Share sale provides that the parties will negotiate in good faith with a view to executing formal documentation and completing this transaction by 29 September 2009".
So we should expect a further annoucment tomorrow that Benny Wu's shareholding has changed, and that Jindal has joined the register as a significant holder.
RCI Price at posting:
35.0¢ Sentiment: Hold Disclosure: Held
