Ann: Valentia Funding Tranche Remitted, page-179

I'm not sure what to say, except I don't think that there was ever any danger of the SP being over 27c AUD in the short term. I really doubt the company would do this. In fact I would have thought it would be better for Valentia if the SP was higher rather than lower, even if it was above 27c!

I honestly think it is a case of them being told "the cheque is in the mail", when it was not. This of course is a very serious issue when it has been announced to the ASX.

On the other hand it is possible that there is something else going on, like maybe anti-money laundering - all banks have anti-money laundering processes in place to meet financial regulations if and where an international transaction looks suspicious. I am not saying the transaction is suspicious, but maybe it is being investigated and something like this has caused a delay...?

And then there's FIRB. I don't know enough about foreign investment restrictions to know whether this is even an issue or not. Anyone else?

Or maybe a game of chicken. Perhaps Valentia is expecting India to be announced... It hasn't been announced, so they have cracked the sh*ts over that and haven't remitted the funds. At the end of the day they have formally agreed to do things, but it doesn't mean they will do them, if market conditions have changed or they feel that certain things haven't eventuated like they had hoped/planned/expected.

The above is all complete speculation on my part and should be taken with a grain of salt as I have absolutely no idea what has happened to the Appendix 3B.