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01/07/22
14:55
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Originally posted by Guvkbr
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Lookup the definition of escrow. This is what the 3rd or 4th time I've had to repeat it now. It wasn't possible to do an in specie distribution for at least two years - it wasn't MO who decided they would be in escrow for two years, it was one of the conditions set out by IG6. Furthermore it wasn't even finalised what would happen with those shares after the two year period, an in specie distribution would be nice but it might also be used to fund other activities within CRL - I guess it all depends on comet's situation when that time finally comes around.
It was actually me who posed the question in the webinar whether they had considered about preplanning an in specie distribution with existing shareholders before dilution takes place, then distributed after the escrow period, but as explained it's not possible. Unfortunate but the show must go on...
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Have you heard other companies doing in specie distribution when they dispose a project ?
He just didn’t want to do it in first place because wasn’t suit his needs …. he needed a second job