100% agree, and as usual the comments are perplexing but I guess not surprising.
Firstly, Northern Ireland is not the same as Ireland. This has nothing to do with CBI. The banking license from CBI relates to Europe (Eurozone/EU etc) of which UK and Northern Ireland are explicitly not part.
It is of course reassuring that EML's reputation is not so tarnished that other governments won't deal with it, but it's not surprising. It would be far more concerning if a government didn't want to deal with EML based on the CBI information but I don't think anyone expects that to be the case.
Secondly, $270m disbursement might be up to $2.1m in revenue (at 80bps yield) but it's likely to be less given (a) other partners probably taking a cut, and (b) the size of the deal allowing for additional negotiation. I would guess it might be $1m in revenue, which is great but does not warrant a price sensitive announcement to the ASX.
100% agree, and as usual the comments are perplexing but I guess...
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