Well said Bailey! After reading the announcement and doing some further research today I also share this same opinion.
The SEZ license and new subsidiary arrangement doesn't change anything right now. When we are producing it will have a huge impact though!
This arrangement pretty much means UTL will pay almost no corporate tax or royalties as they will barely make a profit and MTT who will produce the end product and make all the sales won't pay one cent of corporate tax for 10 years (currently 30%)
If UTL has to list on the DSE who would want to buy the stock? The citizens are mostly poor and UTL will likely not make any or much profit.
My main take away from this announcement is increased profits once in production. Likely higher than what is in the BFS.
Genius move by management!
All IMO and DYOR
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