call for indigenous jobs boom - the australian, page-15

Cudeco placed 15% to Oceanwide at $3.80 and $4 they then approached FIRB to go to 19.9% - CDU had an EGM and approved another 15m shares at $3.80

When the date got close Oceanwide asked for a lower price - The company declined - Oceanwide then asked for an extension . Cudeco declined and placed 24m shares at $3.60 to NAAIL.

:CuDeco entered into negotiations with the above group after Oceanwide Resource International Investments Limited (“Oceanwide”) requested a three month extension to complete their initial agreement to subscribe for 15 Million shares at a price of $3.80 per share. The request was made by Oceanwide due to uncertainty and volatility within global economic markets. The extension was not provided by CuDeco due to expiry of shareholder approval and its desire to finalise funding arrangements as soon as possible"

Oceanwide still have a 60% offtake in place even though the y reneged on the last 10m shares.

I wonder if Timeone offtake is conditional on tranche 4 being paid ?