Though facts and figures are needed if you read the last two...

Though facts and figures are needed if you read the last two announcements you will find that they do provide a lot of detail though rather superfluous which just makes it difficult to work out what is being said.

The way I see things are as follows:

They hope to proceed to settlement this month though an equity component is necessary to meet Macquarie's requirements to produce the funds from the credit facility.

The Share Purchase Plan is essentially an equity raising attempt to meet Equity/Collateral requirements of Macquarie.

The Bridging loan is in place to proceed with settlement as funds from the share purchase plan would unlikely be available until January.

The aforementioned is all illustrated in both announcements as well as confirmation from the company secretary when he returned a phone call to me late yesterday.

The intriguing elements of this are that the likes of Macquarie have offered a credit facility who with the exception of some catastrophic 'Satellite' examples generally know what they are doing.

Further, the bridging loan also instills some level of confidence as they would need to establish a capacity to repay this loan.

Nothing is certain but things look very promising for IMP. Yes there is always the possibility that the board are misleading us monumentally though I doubt they would be so blatant if that was their intention. If the acquisition goes through a major re-rating of the share price will happen.

If the people reading this post need constant reassurance then I suspect this may not be the stock for you though on the other hand if you have a bit of cash to spare and are happy to leave IMP in the bottom draw then I suspect it is an excellent choice as opposed to many many other penny horribles to choose from at present.