GT, those were minimum expenditure commitments that had to be met by certain dates to increase ownership to 80%. They were not caps.
Secondly, the “negotiate in good faith” paragraph you circled was referring to the remaining 20% that had no buy in commitment attached. This formed the basis of the original purchase agreement.
All of this changed in Feb/Mar this year when the JV arrangement was modified to a contribute/dilute mechanism which is the norm in Chile. This is why the Prospectus page you refer to is out of date and somewhat irrelevant now.
GT, those were minimum expenditure commitments that had to be...
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