Kalimaya,
Didnot you understand the recent update?
"On valuing the project in accordance with regulatory requirements the independent expert has concluded the deal is not fair to shareholders but that it is reasonable. This assessment valued the project on a net present value basis and determined in accordance with regulatory requirements that the share conversion price of the loan was too low."
Discussions are continuing with Reignwood.
12.5c is just too low, I believe it may be increased to 15c.
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