Interesting development. I lost interest in the SAS story when I...

Interesting development. I lost interest in the SAS story when I thought it was surely beyond resuscitation but these latest developments make interesting reading.

i think you're connecting the wrong dots here. The VO looks like a pretty vanilla debt for equity swap. The issue here being the equity can only be issued if SAS are reinstated for quotation. If that happens then the purchase can proceed and SAS have some immediate working capital (though I would guess a CR wouldn't be too far behind). To say they will only be reinstated if they have a successful CR is not the case.

The ASX has never been averse to collectng fees so I would expect some routine scrutiny and asking of tough questions so they can look like they're doing their job, and then open the gates to let it proceed.

Im surprised VO are even going this route. It would have been quicker to have bought the SAS IP and delist, but I guess there's some derisking in keeping as much of the operation team and structure together and not having to rebuild. They must have confidence in the technology and the technical team.


The important thing is the management team is out! GLTAH!