balkans sale financing

Following Wild Bills post, I have emailed Mike for some clarification reading transfer of funds ($15.2m) from the sale of our Balkans assets. See his response below:


The deal is done, signed and legally binding.

What I said yesterday at the RRS Conference is that the cash is not yet paid. We are still working through final completion admin issues for Buyer to pay across the $15.2m

Once this is paid we will announce receipt of funds and completion of deal. Until funds in our hands the deal is technically not completed.

We are still confident we will receive these funds in the short term. It is a frustrating process watching the Buyer jump through all the hoops required to get the bank providing funds to release them to us but it will happen shortly.

Please post as necessary as people writing HC posts out of context hurt the Company, and indirectly themselves.

Regards
Mike

Make what you will of it. I continue to feel confident this deal will completed soon.