I guess it all boils down to whether the agreement with AGL is one agreement with several factors or several different agreements and sub-agreements - ie, a sales agreement, a placement, buyback, etc.
it may well be that the sales agreement stands alone and this is what AGL might be referring to in the announcement ... but this appears to be for 3 years.
To quote from AGL's announcement tonight:
“AGL Energy has been in discussion with the management and board of QGC to create a viable
independent entity of deep financial strength that has the opportunity to further develop QGC’s
extensive gas reserves with a route to market. These discussions have culminated in a legally
binding agreement which AGL intends to enforce.
“We remain committed to working with QGC to bring this transaction to a successful close for the
benefit of both AGL Energy’s and QGC’s shareholders” Mr Anthony said.(The quotation marks, by the way, are AGL's!)
How about 2 bucks and a new QGC share?
QGC
queensland gas company limited
