bci made full disclosure in my opinion of the scheme arrangement...

bci made full disclosure in my opinion of the scheme arrangement THIS WAS TAKEN FROM THE 21 JAN RELEASE , READ POINT 1 'don't always believe what you read in thew newspapers'


Conditions precedent
Implementation of the Scheme is subject to the satisfaction or waiver of, inter alia, the following conditions precedent:
1 Approvals: BC Iron shareholders, Regent Pacific shareholders and the Court approving the Scheme;
 Regulatory: Receipt of necessary government agency approvals, including FIRB approval, and no court or regulatory authority taking steps to restrain, retrains, prohibits or impedes the Scheme;
 Independent Expert: The Independent Expert's Report concluding the Scheme is in the best interests of BC Iron shareholders and the Independent Expert not changing that conclusion or withdrawing its report prior to the Second Court Date;
 Warranties: The warranties provided by BC Iron and Regent Pacific to each other are true and correct in all material respects on the date of the SIA and as at the Second Court Date;
 Market Out: Before the Second Court Date, the S&P/ASX 300 Index does not close at less than 85% of the value of the S&P/ASX 300 Index as at the date of the SIA for a period of three or more consecutive trading days;
 Financing: On the Second Court Date, financial accommodation in favour of Regent Pacific on the terms as notified by Regent Pacific to BC Iron before entry in to the SIA, continues to be available;
 No Material Adverse Change: no Material Adverse Change occurs or becomes known to Regent Pacific, and no Material Adverse Matter in respect of BC Iron becomes known to Regent Pacific after the date of the SIA and before the Second Court Date; and