Under the contract, it's in Mount Kellet's interest to activate the 'LAMP Non Approval Event'. They get to pay significantly less per share and and get significantly more shares for their $225m investment, this also unfortunately,has the effect of diluting our own shares further, not that Mount Kellett would give a toss about that.
The contract is clear, no lawyers required, it states:
"LAMP Non-Approval Event means the Malaysia Pre-Operating Permit not being obtained by the Group on or before 15 October 2012."
foster stockbroking , page-50
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